During the current year, Travis takes out a 540,000 loan, using stock he owns as collateral. He uses $10,000 to purchase a car, which he uses 100% for personal use. He uses the remaining funds to purchase stocks and bonds. He pays $3,200 interest on the loan. Travis also reports the following for the year A (Click the icon to view the information.) (Click the icon to view the standard deduction schedule.) Read the requirement. Begin by calculating the adjusted gross income (AGI). (If an input field is not used in the table, leave the input field empty, do not select a label or enter a zero.) More Info AGI without any investment income AGI without any investment income $ 130.000 8,400 State income taxes paid Dividend income Interest income 10,000 2.100 Qualified residence interest 7,800 Adjusted gross income (AGI) 8.000 Now calculate the itemized deductions. Investment expenses (exclusive of interest) Net short term capital gains Net long term capital gain 7,300 8,600 Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Total itemized deductions What is his net taxable income? Minus: Deductions from AGI: Taxable income