Loss of $75,000 on the sale of 1244 stock acquired three years earlier. Worthless stock of $7,000. The stock was acquired on February 1 of the prior year and became worthless on January 15 of the current year. Determine Bruce's AGI for the current year. $37,000 $38,000 $42,000 $47,000 In the current year, Ralph had the following insured personal casualty losses (.arising from one casualty). Ralph also had $40,000 AGI for the year. Ralph's casualty loss deduction is: $3,700 $4,500 $8,600 $9,500 Tan Company acquires a new machine (ten-year property) on January 15,2015, of $200,000. Tan also acquires another new machine (seven-year property)