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e. None of the above. 2. Fof the current year, D.J. has salary income of $80,000 and the following property transactions Stock investment sales- Long-term capital gain Short-term capital loss $ 9,000 (13,000) Ao (2,000) LS Loss on sale of camper (purchased 4 years ago and used for family vacations) What is D.J. ‘s reported income for the current year, net of deductible losses? $76,000. $77,000 $78,000. $89,000. d. e. None of the above
Expert Answer
Answer:
Option a is correct.
Income, net of deductible losses = Salary income + Short-term capital loss + Long term capital gain
Income, net of deductible losses = $80,000 + ($13,000) + $9,000
Income, net of deductible losses = $76,000
