Jose, Single, Reports the Following Items for 2019 $\text { Compute Jose's adjusted gross income for } 2019 .$

question 35

Essay

Jose, single, reports the following items for 2019: $\begin{array}{lr}\text { Salary } & \$ 44,000 \\\S 1244 \text { loss on stock acquired 3 years ago } & (70,000) \\\S 1244 \text { gain on stock acquired } 10 \text { months ago } & 26,000 \\\text { Worthless security purchased in June of last year } & (4,000) \\\text { Nonbusiness bad debt } & (7,000) \\\text { Interest income } & 8,000\end{array}$

$\text { Compute Jose's adjusted gross income for } 2019 .$

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Definitions:

True Group

A collection of individuals who interact with one another, share common goals, and perceive themselves as a cohesive unit.

Mutual Influence

The reciprocal effect individuals or groups have on each other's attitudes, behaviors, or opinions.

Social Relationships

Connections between individuals in a society, characterized by varying degrees of intimacy, mutual assistance, obligation, or involvement.

Share Characteristic

A trait or feature that is common across different members or elements in a group or category.