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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Definitions:

Birth-designated Sex

The sex assigned to an individual at birth based on physical and biological characteristics, often referred to as biological sex.

Sexual Orientation

Refers to an enduring pattern of emotional, romantic, or sexual attractions to men, women, or both sexes, and the identities that people form based on these attractions.

Gender Schema

A cognitive framework that organizes information relevant to gender, influencing how individuals perceive themselves and others.

Gender Stereotypes

Oversimplified and widely held beliefs about the characteristics, attributes, and roles appropriate for males and females.