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During 2022, Gavin, who is single, receives a $55,000 salary and has no deductions for AGI. In 2021, Gavin had a $3,500 short-term capital loss
During 2022, Gavin, who is single, receives a $55,000 salary and has no deductions for AGI. In 2021, Gavin had a $3,500 short-term capital loss (STCL) and no other capital losses or capital gains. Consider the following sales. View the sales. Requirement Determine Gavin's AGI for 2022. (Assume that the 2021 STCL of $3,500 is before Gavin has taken any capital loss deduction in 2021. Complete all input fields. Enter a "0" for any zero-balances.) Salary Net short-term capital gain (loss) Net long-term capital gain (loss) Total AGI 2022 Sales Data An automobile purchased in 2017 for $21,400 and held for personal use is sold for $13,000. On April 10, 2022, stock held for investment is sold for $39,000. The stock was acquired on November 20, 2021, for $8,500
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