In 2019, Nai-Yu had the following transactions: $$\begin{array} { l r }
\text { Salary } & \$ 90,000 \
\text { Short-term capital gain from a stock investment } & 4,000 \
\text { Moving expense to change jobs } & ( 11,000 ) \
\text { Receipt of repayment of } \$ 20,000 \text { loan she made to her sister in 2014 (includes no interest) } & 20,000 \
\text { State income taxes } & ( 5,000 )
\end{array}$$ Nai-Yu's AGI is:
A)$114,000.
B)$103,000.
C)$98,000.
D)$94,000.
E)$83,000.

Question

In 2019, Nai-Yu had the following transactions: $$\begin{array} { l r } 
\text { Salary } & \$ 90,000 \
\text { Short-term capital gain from a stock investment } & 4,000 \
\text { Moving expense to change jobs } & ( 11,000 ) \
\text { Receipt of repayment of } \$ 20,000 \text { loan she made to her sister in 2014 (includes no interest) } & 20,000 \
\text { State income taxes } & ( 5,000 )
\end{array}$$ Nai-Yu's AGI is:
A)$114,000.
B)$103,000.
C)$98,000.
D)$94,000.
E)$83,000.

Quizplus · Accepted Answer

Nai-Yu's AGI (Adjusted Gross Income) calculation includes her salary and short-term capital gain, totaling $94,000 ($90,000 + $4,000). Moving expenses and repayment of personal loans are not included in AGI calculation. State income taxes are an itemized deduction, not an adjustment to income.

In 2019, Nai-Yu Had the Following Transactions Nai-Yu's AGI Is: A)$114,000

In 2019, Nai-Yu Had the Following Transactions Nai-Yu's AGI Is:
A)$114,000