Hiroko,a single taxpayer,has wage income of $80,000.In addition,she has $5,000 in long-term capital losses,$4,000 in long-term capital gains,and $4,000 in short-term capital gains.What is Hiroko's AGI for 2014?

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AGI (Adjusted Gross Income) is calculated by subtracting any deductions such as contributions to a traditional IRA or student loan interest from your gross income. In this case, Hiroko's gross income is $80,000. She also has $5,000 in long-term capital losses, which offset $4,000 of her long-term capital gains and $4,000 of her short-term capital gains. This means she only needs to include $1,000 of her long-term capital gains in her AGI calculation. Therefore, her AGI is $80,000 - $5,000 + $1,000 = $76,000. However, since she is a single taxpayer, she is entitled to a standard deduction of $6,300 in 2014, which brings her AGI to $76,000 - $6,300 = $69,700. Finally, since her long-term capital losses exceed her gains by more than $3,000, she can carry the excess loss forward to future tax years.

Hiroko,a Single Taxpayer,has Wage Income of $80,000