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  3. 32. a taxpayer had the following income and losses

32. A taxpayer had the following income and losses in the current year: ...

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Question

Accounting

32. A taxpayer had the following income and losses in the current year:

Salary

$55,000

Sold AT&T stock at a loss

( 5,000)

Lottery prize

4,500

Gambling winnings

8,000

Gambling losses

( 5,000)

What is the taxpayer's adjusted gross income (not taxable income)?

A.

$59,500

B.

$64,500

C.

$62,500

D.

$57,500

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