For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{llr}
\text { Stock investment sales- } &\
\text { Long-term capital gain} &\$ 9,000\
\text { Short-term capital loss} &(12,000)\
\text { Loss on sale of camper (purchased four years ago and used for family vacations)} &(2,000)\
\end{array}$
What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

Question

For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{llr}
  \text { Stock investment sales- } &\
 \text {  Long-term capital gain} &\$ 9,000\
 \text {  Short-term capital loss} &(12,000)\
 \text {  Loss on sale of camper (purchased four years ago and used for family vacations)} &(2,000)\
\end{array}$
 What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

Quizplus · Accepted Answer

The Answer of For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{llr}
  \text { Stock investment sales- } &\
 \text {  Long-term capital gain} &\$ 9,000\
 \text {  Short-term capital loss} &(12,000)\
 \text {  Loss on sale of camper (purchased four years ago and used for family vacations)} &(2,000)\
\end{array}$
 What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

For the Current Year, David Has Wages of $80,000 and the Following