John Files a Return as a Single Taxpayer

question 38

Multiple Choice

John files a return as a single taxpayer. In 2018, 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 2018.

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

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