Kendra had the following transactions during the year. What is her income during the year? Salary $60,000 LTCG from the sale of stock $25,000 Sale of 1231 asset $15,000 gain ($12,000 is section 1245 depreciation) Sale of 1231 asset ($8,000) loss Select one:

a. $67,000 Ordinary Income, $25,000 LTCG (1/15/20%) 

b. $72,000 Ordinary Income; $20,000 LTCG (0/15/20%) 

c. $40,000 Ordinary Income; $28,000 LTCG

Answer rating: 100% (QA)

The Correct option would be a 67000 Ordinary In... View the full answer