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During 2014. Glenn receives a $70,000 salary and has no deductions for AGI. In 2013. Glenn had a $4,000 STCL available and no other capital
During 2014. Glenn receives a $70,000 salary and has no deductions for AGI. In 2013. Glenn had a $4,000 STCL available and no other capital losses or capital gains. Consider the following sales An automobile purchased in 2009 for $16,700 and held for personal use is sold for $6,000 On April 10. 2014, stock held for investment is sold for $34,000. The stock was acquired on November 20. 2013. for $7,700. Requirement Determine Glenn's AGI for 2014. (Assume that the 2013 STCL of $4,000 is before Glenn has taken any capital loss deduction in 2013. Complete all answer boxes. Enter a "0" for any zero-balances.) 2014
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