Jose, Single, Had the Following Items for 2018

Essay

Jose, single, had the following items for 2018: $\begin{array}{lr}\text { Salary } & \$ 44,000 \\\S 1244 \text { loss on stock acquired } 3 \text { years ago } & (70,000) \\\S 1244 \text { gain on stock acquired } 10 \text { months ago } & 26,000 \\\text { Worthless security purchased in June of last year } & (4,000) \\\text { Nonbusiness bad debt } & (7,000) \\\text { Interest income } & 8,000\\\text { Compute Jose's adjusted gross income for } 2018 \end{array}$