Yolanda,a single taxpayer,has W-2 income of $87,500.She also has a short-term capital loss of $7,000,a short-term capital gain of $1,000,and a long-term capital gain of $2,000.What is Yolanda's AGI for 2014?

Question

Quizplus · Accepted Answer

Yolanda's AGI is calculated by subtracting her eligible deductions from her total income. Her total income is $87,500 + $2,000 (long-term capital gain) + $1,000 (short-term capital gain) - $7,000 (short-term capital loss) = $83,500. Therefore, the correct answer is choice B.

Yolanda,a Single Taxpayer,has W-2 Income of $87,500