A taxpayer had the following income and losses in the current year: Salary $55,000 Sold AT&T stock at a loss ( 5,000) Lottery prize 4,500 Gambling winnings 8,000 Gambling losses ( 5,000)

A taxpayer had the following income and losses in the current year: Salary $55,000 Sold AT&T stock at a loss ( 5,000) Lottery prize 4,500 Gambling winnings 8,000 Gambling losses ( 5,000)

A taxpayer had the following income and losses in the current year:
Salary $55,000
Sold AT&T stock at a loss ( 5,000)
Lottery prize 4,500
Gambling winnings 8,000
Gambling losses ( 5,000)


What is the taxpayer's adjusted gross income (not taxable income)?
A) $57,500
B) $59,500
C) $62,500
D) $64,500


Answer: D