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Taxpayer G had the following items of income and loss in 2019: Wages $28,000 Nonbusiness bad debt 1,000 Gain on commodity futures held 14 months
Taxpayer G had the following items of income and loss in 2019:
Wages | $28,000 |
Nonbusiness bad debt | 1,000 |
Gain on commodity futures held | |
14 months | 1,000 |
Loss on stock purchased in 2000 | 800 |
Flood loss on personal residence | |
owned since 2002 and located | |
in a federally declared disaster area | 4,500 |
Gain on stock held 13 months | 4,500 |
Determine the overall result of the transactions.
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