Regina, who files as head-of-household, sold the following capital assets in 2019. Regina has $110,000 of taxable
Question:
Regina, who files as head-of-household, sold the following capital assets in 2019. Regina has $110,000 of taxable income and is in the 24% tax bracket.
Item | Acquired | Sold | Sales Price | Adjusted Basis | Amount of Gain or Loss (indicate gain or loss) |
Silver Coin Collection | 6/15/03 | 9/15/19 | 14,000 | 5,000 | a. |
Mighty Stock | 3/15/18 | 3/15/19 | 45,000 | 49,000 | b. |
Green Stock | 2/14/18 | 8/31/19 | 36,000 | 30,000 | c. |
You can use this worksheet to summarize your gains/losses to answer questions d through i.
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Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill