For the current year, David has wages of $80,000 and the following property transactions: Stock investment sales

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For the current year, David has wages of $80,000 and the following property transactions:

Stock investment sales

Long-term capital gain………………………………….…………………………............…$9,000

Short-term capital loss…………………………………….....………………………..........(12,000)

Loss on sale of camper (purchased 4 years ago and used for family vacations)………(2,000)

What is David’s AGI for the current year?

a. $76,000.

b. $77,000.

c. $78,000.

d. $89,000.

e. None of these.

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Financial Reporting and Analysis Using Financial Accounting Information

ISBN: 978-1439080603

12th Edition

Authors: Charles H Gibson

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Posted Date: Oct 18, 2018 01:26 AM

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For the current year, David has wages of $80,000 and the following property transactions: Stock investment sales

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b 77000 Wages 80000 Add Long term gain 9000 Le... View the full answer

Financial Reporting and Analysis Using Financial Accounting Information

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