Phil and Susan are married taxpayers filing a joint return. The couple have two dependent children. Susan

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Phil and Susan are married taxpayers filing a joint return. The couple have two dependent children. Susan has wages of $34,000 in 2016. Phil does not work due to a disability, but he is a buyer and seller of stocks on the Internet. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2016 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends.
Phil and Susan are married taxpayers filing a joint return.

What is Phil and Susan's AGI?

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...
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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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