Gabriella,a single taxpayer,has wage income of $160,000.In addition,she has $7,000 in long-term capital losses,$1,000 in long-term capital gains,$3,000 in short-term capital gains,and
$1,000 in short-term losses.What is Gabriella's AGI for 2016?

Question

Quizplus · Accepted Answer

AGI = Wage income + Net capital gain= $160,000 + ($1,000 + $3,000 - $7,000 - $1,000)= $160,000 - $2,000= $158,000

Gabriella,a Single Taxpayer,has Wage Income of $160,000