15. LO.1, 2 Jocelyn and Esteban file a joint return. For the current year, they had the following items:

Salaries $120,000 Loss on sale of § 1244 stock acquired two years ago 105,000 Gain on sale of § 1244 stock acquired six months ago 20,000 Nonbusiness bad debt 19,000 Determine the impact of the above items on Jocelyn’s and Esteban’s income for the current year.