Question
Phil and Susan are married, filing a joint return. The couple has two dependent children. Susan has wages of $34,000 in 2013. Phil does not
Phil and Susan are married, filing a joint return. The couple has two dependent children. Susan has wages of $34,000 in 2013. Phil does not work due to a disability, but he is a buyer and seller of stocks on the Internet. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2013 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends.
Item Date Acquired Date Sold Cost Sales Price
Blue stock 11/10/12 3/12/13 $3K $6K
puce stock 12/13/11 5/23/13 $36K $32K
beige stock 12/14/08 7/14/13 $13K $14,5K
red stock 6/29/12 5/18/13 $26K $27K
black stock 5/15/12 10/18/13 $67K $67,800
Gray stock 4/23/11 10/18/13 $89K $88,200
What is Phil and Susan's AGI?
NOTE: I will only give credit for correct Answer. I will not award points for questions similar to question.
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