John Files a Return as a Single Taxpayer

question 73

Multiple Choice

John files a return as a single taxpayer.In 2017, 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 2017.

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

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Definitions:

Carpal Tunnel Syndrome

Repetitive-motion disorder most frequently associated with keyboarding and the use of optical scanners; occurs when repetitive flexing and extension of the wrist causes the tendons to swell, thus trapping and pinching the median nerve.

Median Nerve

A major nerve in the human body that runs down the arm and forearm, and into the hand, playing a significant role in the control of hand and finger movements.

Wrist Tendons

Fibrous connective tissues that connect muscles to bones in the wrist, facilitating movement and support.

Neural Circuits

Networks of neurons interconnected by synapses, responsible for processing information in the brain.