In 2007 Mary purchased 100 shares of §1244 stock for $180,000. In 2022 Joseph offers to buy the stock from Mary for $120,000. In 2022 Mary has $18,000 of long-term capital gain and gross income of $65,000. What is Mary's AGI for 2022 if she sells the shares to Joseph?

Answer rating: 100% (QA)

To calculate Marys adjusted gross income AGI for 2022 after selling the shares to Joseph ... View the full answer