e. None of the above Questions 19&20 James, a NYC reaident, had had interest income from a savings account of $975.00, interest income from the City of New York Mac Bonds of $1,200.00, and dividend income of $600.00. Additionally, on October 15, 2015, James sold 1,000 shares of JP M $16,500.00, which he purchased on Stock for $7,500, wages of $105,000.00 in 2015 and $112,500.00 in 2016. In 2015 he $7,850. The stock had an adjusted basis of June 15, 2014. On March 15, 2016, James sold Citibank which had an adjusted basis of $5,200. James had no other income 2015 or 2016. 19 What is James AGI for 20157 5, 0 12.500 2.360 a. $103,575 b. $104,775 1260 107.77 d $97,925. e $105,575. a. $106,150. c. $112,500. 20. What is James AGI for 20162 d. $109,500 e. $109,150 Question 21 through 22 21. John, a single taxpayer, sold his 2-family home, which he owned since June 10, 2007 for $850,000. During the time John owned the home, he lived in one apartment and rented the second apartment. Both apartments were of equal size. John purchased the home for S200,000. John made no improvements to the home, but he took depreciation expense every year allowable depreciation was $77, 275. on the rental unit. Total depreciation allowed was $61,820; however, total What is John's realized gain on the sale of the home? a. $347,725 b. $425,000 c. $727,275 495,0 4 Als d. $788,180 None of the above e. co,0o What is John's recognized gain? a $363,280 350033 22. led