For the Current Year,David Has Salary Income of $80,000 and the Following

question 165

Multiple Choice

For the current year,David has salary income of $80,000 and the following property transactions: Stock investment sales-
Long-term capital gain $ 9,000
Short-term capital loss (12,000)
Loss on sale of camper (purchased 4 years ago and used for family vacations) (2,000)
What is David's AGI for the current year?

• A)$76,000.
• B)$77,000.
• C)$78,000.
• D)$89,000.
• E)None of these.

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Definitions:

Expenses

The costs incurred in the day-to-day operations of an organization.