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For the Current Year, David Has Salary Income of $80,000

Question 16

Multiple Choice

For the current year, David has salary income of $80,000 and the following property transactions:
Stock investment sales-  Long-term capital gain $9,000 Shoit-term capital loss(12,000)  Loss on sale of camper (purchased 4 years ago and used for family vacations)  (2,000) \begin{array}{llr} \text {Stock investment sales- } &\\ \text { Long-term capital gain } &\$9,000\\ \text { Shoit-term capital loss} &(12,000) \\ \text { Loss on sale of camper (purchased 4 years ago and used for family vacations) } &(2,000) \\\end{array}

What is David's AGI for the current year?


A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of the above.

Correct Answer:

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