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Greg Brady, filing single with 2 dependents, had the following items for 2016: Salary $103,200; Long-term capital loss on sale of investment ($3250); Casualty gain
Greg Brady, filing single with 2 dependents, had the following items for 2016: Salary $103,200; Long-term capital loss on sale of investment ($3250); Casualty gain on personal property held for 4 years $17,500; Stock acquired 2 years ago became worthless during the year ($4500); Loss on non-business bad debt that has benn held for 5 years ($6600); Loss on sale of 1244 small business stock acquired 3 years ago ($52,500); Casualty loss on long-term business property ($13,000).
Determine Greg's adjusted gross income for 2016.
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