John files a return as a single taxpayer.In 2016,he had the following items:
∙
Salary of $40,000.
∙
Loss of $65,000 on the sale of § 1244 stock acquired two years ago.
∙
Interest income of $6,000.
Determine John's AGI for 2016.
A) ($5,000) .
B) $0.
C) $45,000.
D) $51,000.
E) None of the above.
Correct Answer:
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