Maria, Who Is Single, Had the Following Items for 2017

question 67

Essay

Maria, who is single, had the following items for 2017: $\begin{array}{l}\begin{array}{lr}\text { Salary } & \$ 80,000 \\\text { Loss on sale of } \S 1244 \text { small business stock acquired 3 years ago } & (60,000) \\\text { Stock acquired } 2 \text { years ago became worthless during the year } & (5,000) \\\text { Long-term capital gain } & 25,000 \\\text { Nonbusiness bad debt } & (15,000) \\\text { Casualty loss on property held } 6 \text { months } & (6,000) \\\text { Casualty gain on property held 4 years } & 4,000\end{array}\\\text { Determine Maria's adjusted gross income for } 2017 \text {. }\end{array}$