Score: 0 of 1 pt 6 of 6 (1 complete) HW Score: 16.67%, 1 of 6 pts Question Help o PI:8-43 (similar to) During the current year, Ted takes out a $70,000 loan, using stock he owns as collateral. He uses $21,000 to purchase a car, which he uses 100% for personal use. He uses the remaining funds to purchase stocks and bonds. He pays $5,600 interest on the loan. Ted also reports the following for the year: (Click the icon to view the information.) (Click the icon to view the standard deduction schedule.) Read the requirement Begin by calculating the adjusted gross income (AGI). (If an input field is not used in the table, leave the input field empty; do not select a label or enter a zero.) Adjusted gross income (AGI) 1 More Info X 1 $ AGI without any investment income State income taxes paid Dividend income Interest income Qualified residence interest Investment expenses (exclusive of interest) Net short term capital gains Net long term capital gain 100,000 9,000 7,500 2,100 7,600 8,100 7,800 8,700 Score: 0 of 1 pt 6 of 6 (1 complete) HW Score: 16.67%, 1 of 6 pts Question Help o PI:8-43 (similar to) During the current year, Ted takes out a $70,000 loan, using stock he owns as collateral. He uses $21,000 to purchase a car, which he uses 100% for personal use. He uses the remaining funds to purchase stocks and bonds. He pays $5,600 interest on the loan. Ted also reports the following for the year: (Click the icon to view the information.) (Click the icon to view the standard deduction schedule.) Read the requirement Begin by calculating the adjusted gross income (AGI). (If an input field is not used in the table, leave the input field empty; do not select a label or enter a zero.) Schedule of Standard Deductions $ 24,800 Ad $ 18,650 $ 12,400 STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. $ 12,400 $1,300 $1,650 Print Done Net short term capital gains Net long term capital gain 7,800 8,700