Mr. Alm earned a $61,850 salary and recognized a $5,600 loss on the sale of corporate stock this year. Assume the taxable year is 2016. Compute Mr. Alms AGI and any capital loss carryforward into future years in each of the following cases:

a. Mr. Alm had no other capital transactions this year.

b. Mr. Alm recognized a $12,250 capital gain on the sale of mutual fund shares.

c. Mr. Alm received an $8,000 capital gain distribution from a mutual fund and had a $3,900 capital loss carryforward from a previous year.

Mr Alm earned a $112,000 salary and $2,200 interest income from a jumbo Certificate of Deposit. She recognized a $15,300 capital loss on the sale of undeveloped land. Assume the taxable year is 2016. Compute Lindas AGI and any capital loss carryforward into future years in each of the following cases:

a. He also recognized a $10,500 capital gain from the sale of corporate stock.

b. He also received a $16,000 capital gain distribution from a mutual fund.

c. He had no other capital transactions this year, but has a $17,000 capital loss carryforward from a previous year.