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Nancy reports the following income and loss in the current year. Salary $ 60,000 Income...

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Accounting

Nancy reports the following income and loss in the current year. Salary $ 60,000 Income from activity A 18,000 Loss from activity B ( 9,000) Loss from activity C (13,000) All three activities are passive activities with respect to Nancy. Nancy also has $21,000 of suspended losses attributable to activity C carried over from prior years. During the year, Nancy sells activity C and realizes a $15,000 taxable gain. What is Nancy's AGI as a result of these transactions? A) $50,000 B) $55,000 C) $64,000 D) $71,000

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