Question: Mabel and Jack file a joint return. For the current year, they had the following items: Salaries = $180,000 Loss on sale of Title 1244

Mabel and Jack file a joint return. For the current year, they had the following items: Salaries = $180,000 Loss on sale of Title 1244 Stock acquired 2 yrs ago = 105,000 Gain on sale of Title 1244 acquired 6 months ago = 20,000 Nonbusiness bad debt = 19,000 What is the adjusted gross income the loss on title 1244 stock is limited to $100,000 and is treated as ordinary loss

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