During 2017, Gerry Appel, who is single, received a Form 1099-B showing the following information: Description Date
Question:
During 2017, Gerry Appel, who is single, received a Form 1099-B showing the following information:
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His taxable income is $59,000 (including gains and losses from above) (Form 1040, line 43).
Calculate Gerry's net capital gain or loss and tax liability using Schedule D of Form 1040, Parts I, II, and III; Form 8949, Parts I and II; and the qualified dividends and capital gains tax worksheet.
Click here to access the tax tables.
If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers. If an amount box does not require an entry or an amount is zero, enter "0".
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Fundamentals of Taxation 2015
ISBN: 9781259293092
8th edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone