Ann has reached her full retirement age $($FRA$)$ of $67.$ She can elect to receive $$1,000$ now or delay receipt by two years. She expects to live until age $90.$ Ignoring outside factors, when should she begin her benefits?

She should have started earlier

Not enough information to determine

Two years from now

Now, at FRA

Joe has $$60,000$ of wages, $$13,000$ of deductions, and realized $$5,000$ in losses from stock investment this year. The passive loss did not arise from rental property or real estate. What is Joe's taxable income this year?

$$42,000$

$$44,000$

$$60,000$

$$47,000$