During the Current Year, Diane Disposes of Fine Foods Limited

Multiple Choice

During the current year, Diane disposes of Fine Foods Limited Partnership, at a gain of $12,000. Diane's adjusted gross income from non-passive sources is $120,000. She has a suspended loss from Fine Foods of $22,000, and a loss from other passive activities of $4,500. What is the amount of Diane's adjusted gross income for the current year?

A) $95,550
B) $105,500
C) $110,000
D) $115,500
E) $120,000