LO.1, 2 Mable and Jack file a joint return. For the current year, they had the following

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LO.1, 2 Mable and Jack file a joint return. For the current year, they had the following items:

Salaries $120,000 Loss on sale of § 1244 stock acquired two years ago 105,000 Gain on sale of § 1244 stock acquired six months ago 20,000 Nonbusiness bad debt 19,000 Determine their AGI for the current year.

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Muhammad Salman Alvi

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