Question: Jocelyn and Esteban file a joint return. For the current year, they had the following items: Salaries.................................................................................... $120,000 Loss on sale of $ 1244 stock

Jocelyn and Esteban file a joint return. For the current year, they had the following items:

Salaries.................................................................................... $120,000

Loss on sale of $ 1244 stock acquired two year 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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