John Files a Return as a Single Taxpayer

question 38

Multiple Choice

John files a return as a single taxpayer. In 2014, he had the following items:
-Salary of $40,000.
-Loss of $65,000 on the sale of § 1244 stock acquired two years ago.
-Interest income of $6,000. Determine John's AGI for 2014.

• A) ($5,000).
• B) $0.
• C) $45,000.
• D) $51,000.
• E) None of the above.

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Definitions:

Capillary Refill Time

The time taken for color to return to an external capillary bed after pressure is applied, used as a quick test to assess circulatory status.

Pupil Reactivity

The change in pupil size in response to light, which is a critical measure in assessing neurological function.

Oral Thermometer

An instrument used to measure body temperature through the mouth.

Disposable Thermometer

A single-use instrument designed to measure body temperature without requiring sterilization between uses.