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During the current year, Jack Goodwin, a married taxpayer who files a joint return, reports the following items of income and loss: AGI, consisting of

During the current year, Jack Goodwin, a married taxpayer who files a joint return, reports the following items of income and loss: AGI, consisting of salary income, of $130,000, and a rental real estate loss of $40,000. Jack actively participates in the rental activity. Determine Jack's AGI for the current year. His taxable income.

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