Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan has wages of $34,000 in 2016. Phil does not work due to a disability, but he is a buyer and seller of stocks. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2016 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends. Item Date Sold Cost Blue stock (10 shares) Purple stock (100 shares) Beige stock (50 shares) Red stock (100 shares) Black stock (100 shares) Gray stock (100 shares) Date Acquired 11/10/15 12/13/14 12/14/11 06/29/15 05/15/15 04/23/14 03/12/16 05/23/16 07/14/16 05/18/16 10/18/16 10/18/16 $ 3,000 36,000 13,000 26,000 67,000 89,000 Sales Price $ 6,000 32,000 14,500 27,000 67800 88,200 a. What is Phil and Susan's AGI? b. Complete a Form 8949 for the Hammonds (Phil's Social Security number is 123-45-6789). Assume that the stock sale information was reported to the Hammonds on a Form 1099B and that basis information was provided to the IRS. Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan has wages of $34,000 in 2016. Phil does not work due to a disability, but he is a buyer and seller of stocks. He generally buys and holds for long-term gain, but occasionally gets in and out of a stock quickly. The couple's 2016 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends. Item Date Sold Cost Blue stock (10 shares) Purple stock (100 shares) Beige stock (50 shares) Red stock (100 shares) Black stock (100 shares) Gray stock (100 shares) Date Acquired 11/10/15 12/13/14 12/14/11 06/29/15 05/15/15 04/23/14 03/12/16 05/23/16 07/14/16 05/18/16 10/18/16 10/18/16 $ 3,000 36,000 13,000 26,000 67,000 89,000 Sales Price $ 6,000 32,000 14,500 27,000 67800 88,200 a. What is Phil and Susan's AGI? b. Complete a Form 8949 for the Hammonds (Phil's Social Security number is 123-45-6789). Assume that the stock sale information was reported to the Hammonds on a Form 1099B and that basis information was provided to the IRS