Judith Jones, single, reports four sales of capital assets during 20x1, as set out below.
Long-term capital gain
$4,000
Long term capital loss
12,000
Short term capital loss
1,000
Short term capital gain
2,000
Taxpayer's only other income for the year is salary of $80,000. What is Judith's adjusted gross income for the year?
A. $80,000
B. 73,000
C. 86.000
D. 70,000
E. None of the above