How much is jeffs ordinary income for calculating his


Jeff is single with no dependents & had the following for 2014: Wages: $75K; Loss (sale of stock held for 4 years): -$2K; Qualifying Dividends: $3K; Exemption deduction: $3,950; Itemized Deductions: $14,900

Question 1: How much is Jeff's taxable income?

Question 2: How much is Jeff's ordinary income for calculating his capital gains tax for 2014?

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