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The answer is NOT 37,000 or 72,000. Problem 7-31 (b) (LO. 1, 2) Samuel, who is single, files head of household and has the following

image text in transcribed The answer is NOT 37,000 or 72,000.

Problem 7-31 (b) (LO. 1, 2) Samuel, who is single, files head of household and has the following items for the current year: Salary Loss on sale of S 1244 stock acquired three years ago Gain on sale of S 1244 stock acquired one month ago Nonbusiness bad debt Business bad debt $98,000 36,000 10,000 30,000 5,000 Determine his AGI for the current year. 37,000X

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