Phil and Susan are married taxpayers, filing a joint return. The couple have two dependent children. Susan has wages of $34,000 in 2015. Phil does not work due to a disability, but he is a buyer and seller of stocks on the Internet. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2015 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends.
|
Item
|
Date Acquired
|
Date Sold
|
Cost
|
Sales Price
|
|
Blue stock
|
11/10/14
|
03/12/15
|
$ 3,000
|
$ 6,000
|
|
Puce stock
|
12/13/13
|
05/23/15
|
36,000
|
32,000
|
|
Beige stock
|
12/14/10
|
07/14/15
|
13,000
|
14,500
|
|
Red stock
|
06/29/14
|
05/18/15
|
26,000
|
27,000
|
|
Black stock
|
05/15/14
|
10/18/15
|
67,000
|
67,800
|
|
Gray stock
|
04/23/13
|
10/18/15
|
89,000
|
88,200
|
What is Phil and Susan's AGI?