Bob, who is single, had the following items for the current year: Salary of...
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Accounting
Bob, who is single, had the following items for the current year: Salary of $91,000. Gain of $20,000 on the sale of 1244 stock acquired two years earlier. Loss of $75,000 on the sale of 1244 stock acquired three years earlier. Worthless stock of $15,000. The stock was acquired on February 1 of the prior year and became worthless on January 15 of the current year. Determine Bobs AGI for the current year.
a. $27,000
b. $38,000
c. $42,000
d. $47,000
e. None of the choices are correct.
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