Alphonso purchased an office building in 2010 for $650,000 and machinery (7-year property) in September of 2015 for $60,000 (assume these were business-use assets, were the only assets purchased during each of these tax years, and that no 179 expense or bonus depreciation was taken). He sells both of these assets in March 2018 for $700,000 and $42,500, respectively. As of 12/31/2017, Alphonso had taken depreciation on the building of $132,659, and depreciation on the machinery of $33,762. During 2018, Alphonso also had a casualty loss on business equipment of ($5,000) and a casualty gain from insurance proceeds on previously stolen business property of $9,000 (ignore depreciation on this asset). Alphonso had the following $1231 gains/losses during the prior 5 years: (Space provided for your work below) 2013: (5,000) 2014: (12,000) 2015: 4,000 2016: (3,000) 2017: 10,000 If Alphonso's only other income/loss during the year are $200,000 of salary income, and a $350,000 short term capital loss from the sale of stock, what is Alphonso's AGI for 2018? HTML Editor