How much is his adjusted gross income

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John is single and has quite the variety of income/proceeds received in 2016, consisting of the following:

Regular wages of $32,501

Severance pay of $3,406

Unemployment compensation of $2,211

He was in a car accident and received $4,980 from insurance to cover 100% of his medical bills

He has a short term capital gain of $1,200 on the sale of Dell stock, a short term capital loss of $800 on the sale of Vf Corp stock and a long term capital loss of $4,200 on the sale of JP Morgan stock

He earned $725 of interest income from an investment in bonds issued by Puerto Rico and earned $267 in interest income from a US Treasury Bill investment.

He is entitled to one exemption and has itemized deductions of $7418

Question is-- How much is his Adjusted Gross Income?

Reference no: EM131419321

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