Amount and Character of Loss Transactions . Five years ago, Brian and his brother Boyd formed…


Amount and Class of Loss Transactions . Five years ago, Brian and his tally Boyd formed Stewart Corp., a golf vestments manufacturing corporation. At that duration, Brian con - tributed $300,000 to the fortification in exchange for 50 % of its store. During the popular year, Brian needed some cash to lapse a golf series so he sold a third of his attention in Stewart Corp. for $85,000. He as-well sold store in the aftercited companies for the amounts indicated:

During the year Brian remunerated a assemblage action to amass a $14,000 advance he made to an old friend, which was due in bountiful on January 1 of the popular year. The action set no track of his friend. As-well during the year, BTR Corporation, in which he owns store, went insolvent. His investment was excellence $94,000 on January 1, he lapsed it six years ago for $100,000, and he expects to entertain solely $8,000 in repurchase of his store. Finally, Brian's salary for the year was $114,000 for his employment as an friend

a.professor. a. What are the net gains and losses from the above items and their class?

b. What is Brian's AGI for the year inflated he has no other items of allowance or conclusion?