LO.1,2 Mable and Jack file a joint return. For the current year, they had the follow- ing

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LO.1,2 Mable and Jack file a joint return. For the current year, they had the follow- ing items: Salaries Loss on sale of 1244 stock acquired two years ago Gain on sale of 5 1244 stock acquired six months ago Nonbusiness bad debt $120,000 105,000 20,000 19,000 Determine the impact of the above items on Mable and Jack's income for the current year.

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