Question

Martin and Lucia are married and filing a joint return. They have one child and have combined wages of $85,000 in 2019. The couple's 2019 stock transactions are detailed in the following table. In addition, they have $1,800 of qualifying dividends. Item Sales Price Cost $34,000 Turtle stock $29,000 Rabbit stock 8,000 18,000 Date Acquired 12/10/18 01/24/17 09/01/14 04/05/18 08/19/18 03/01/18 Parrot stock Cat stock Date Sold 03/13/19 05/09/19 07/31/19 04/20/19 02/07/19 01/15/19 12,000 4,500 23,000 16,000 22,000 $45,000 Dog stock Snake stock 10,000 $56,000 a. Determine the nature and amount of the gain or loss for each of the stock transactions. Item Item Type of Gain or Loss Amount Turtle stock Short-term capital loss 5,000 Rabbit stock Long-term capital gain 10,000 Parrot stock Long-term capital loss 7,500 Cat stock Long-term capital gain 7,000 Dog stock Short-term capital loss 12,000 Snake stock Short-term capital gain 11,000

Please only answer what their AGI is.

Answer 1

Combined Wages	$ 85,000
Qualified Dividends	$   1,800
Capital Gains	$   3,500
AGI	$ 90,300