Assume the following sales took place during 2019 for a variety of individual capital assets for Ron (all normal capital assets with gains subject to 0%, 15% or 20% tax rates):

Property Purchase Date	Property Sale Date	Adjusted Basis	Sales Proceeds	Gain/Loss	Character of Gain/Loss
12/6/2019	12/9/2019	$1,000	$1,060
1/7/2000	6/15/2019	$5,000	$6,200
11/6/2013	8/20/2019	$5,000	$4,200
5/1/2019	10/31/2019	$2,500	$2,200
6/8/2011	3/22/2019	$8,600	$10,000
7/10/1999	1/19/2019	$2,000	$4,100
3/16/2016	3/16/2019	$5,300	$6,000

*A prior year long-term capital loss will be carried over into this year in the amount of ($4,000).

1. Determine the net capital gain or loss resulting from these transactions.

2. Explain the tax rate(s) that would apply to your end result or if any part of your end result is deducible against ordinary income.

3. Enter this information into Form 8949 and then into Schedule D for 2019.

Answer rating: 100% (QA)

Property purchase date Property sale date Adjusted basis Sales proceed GainLoss Character of GainLos... View the full answer