has income of 70,000
Stock investment sales:
Long term capital gain----10,000
Short term capital loss----(12,000)
loss on sale af RV 4 years ago and used for vacations (2,000)
2006-10-25 02:54:21 · 4 answers · asked by brownskeith 1 in Business & Finance ➔ Taxes ➔ United States
70000 Income
(2000) Less: Net capital losses
68000 AGI
The $2000 loss on the RV is non-deductable as it is a personal asset.
2006-10-25 03:14:41 · answer #1 · answered by Wayne Z 7 · 4⤊ 1⤋
AGI 68,000
2006-10-25 03:33:54 · answer #2 · answered by acmeraven 7 · 1⤊ 1⤋
the agi should be 68,000
2006-10-25 03:16:19 · answer #3 · answered by Anonymous · 1⤊ 1⤋
70000 - $3,000 ($1,500 if you are married and file a separate tax return) = $67,000 ($68,500 if you are married and file a separate tax return)
2006-10-25 10:23:57 · answer #4 · answered by RamsGod 3 · 0⤊ 2⤋