A Taxpayer Had the Following Income and Losses in the Current

question 112

Multiple Choice

A taxpayer had the following income and losses in the current year: $$\begin{array} { | l | r| } \hline \text { Salary } & \$ 55,000 \\\hline \text { Sold AT\&T stock at a loss } & ( 5,000 ) \\\hline \text { Lottery prize } & 4,500 \\\hline \text { Gambling winnings } & 8,000 \\\hline \text { Gambling losses } & ( 5,000 ) \\\hline\end{array}$$ What is the taxpayer's adjusted gross income?

• A)$57,500
• B)$59,500
• C)$62,500
• D)$64,500

---

Definitions:

Depressive Disorders

A group of conditions characterized by persistent feelings of sadness and loss of interest that affect a person's ability to function effectively in daily life.

Major Depressive Disorder

A mental health disorder characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities, significantly affecting daily functioning.

Persistent Depressive Disorder

Mood disorder, characterized by mildly or moderately depressed moods, that persists for at least two years.

Psychologists

Professionals trained in the study of the mind and behavior, who apply psychological research and techniques in various settings.