Question: Mable and Jack file a joint return. For the current year, they had the following items: Salaries $120,000 loss on sale of section 1244 stock

Mable and Jack file a joint return. For the current year, they had the following items: Salaries $120,000 loss on sale of section 1244 stock acquired two years ago $105,000 gain on sale of section 1244 stock acquired six months ago $20,000 non-business bad debt $19,000. Fill in the following to their AGI for the current year:

Salaries:

Loss on sale of section 1244 stock aquired two years ago:

Allowable Loss:

Remaining Loss:

Gain on sale of section 1244 stock aquired 6 months ago:

Nonbusiness bad debt:

Total potential gain (loss)

Net Capital allowable:

AGI:

Carry Loss Carryover:

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