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Mable and Jack file a joint return
34. Mable and Jack file a joint return. For the current year, they had the following items:
Salaries $180,000
Loss on sale of § 1244 stock acquired two years ago 95,000
Gain on sale of § 1244 stock acquired six months ago 12,000
Nonbusiness bad debt 16,000
Determine their AGI for the current year.
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