For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{lr}
\text { Stock investment sales- } \
\text { Long-term capital gain } &\$ 9,000 \
\text { Short-term capital loss } &(12,000) \
\text { Loss on sale of camper (purchased 4 years ago and used for family vacations) } &(2,000)
\end{array}$ What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

Question

For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{lr}
\text { Stock investment sales- } \
\text {  Long-term capital gain } &\$ 9,000 \
\text { Short-term capital loss } &(12,000) \
\text { Loss on sale of camper (purchased 4 years ago and used for family vacations) } &(2,000)
\end{array}$ What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

Quizplus · Accepted Answer

The Answer of For the current year, David has wages of $80,000 and the following property transactions: $\begin{array}{lr}
\text { Stock investment sales- } \
\text {  Long-term capital gain } &\$ 9,000 \
\text { Short-term capital loss } &(12,000) \
\text { Loss on sale of camper (purchased 4 years ago and used for family vacations) } &(2,000)
\end{array}$ What is David's AGI for the current year?
A) $76,000.
B) $77,000.
C) $78,000.
D) $89,000.
E) None of these.

For the Current Year, David Has Wages of $80,000 and the Following