Caesar,a single taxpayer,has wage income of $75,000.He also has a short-term capital loss of $5,000,a short-term capital gain of $2,000,and a long-term capital gain of $3,000.What is Caesar's AGI for 2017?

Question

Quizplus · Accepted Answer

Caesar's AGI includes his wage income of $75,000. The capital gains and losses net to $0 ($2,000 short-term gain + $3,000 long-term gain - $5,000 short-term loss), so they do not affect his AGI.

Caesar,a Single Taxpayer,has Wage Income of $75,000