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Gomer Hill earned $1,200 in Year 1 on a certificate of deposit (CD) scheduled to mature in Year2. On January2, Year 2, before Hill filed

Gomer Hill earned $1,200 in Year 1 on a certificate of deposit (CD) scheduled to mature in Year2. On January2, Year 2, before Hill filed his Year 1 income tax return, he incurred a forfeiture penalty of $700 for premature withdrawal of the funds in the CD. In Year 1 and Year 2, Hill had a salary of $50,000. If he has no other income, what is Hill's adjusted gross income for Year 1 and Year 2?

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