Question: Olivia bought a used car for $ 8 , 3 5 0 on January 2 3 , 2 0 2 4 . She also paid

Olivia bought a used car for $8,350 on January 23,2024. She also paid $814.25 in sales tax to her local county (in California). Olivia sold the car on May 23,2024 for $9,755. Assuming Olivia did not incur any expenses for the car when she owned it, how does Olivia report the sale on her tax return? a) Report a $ 9,755.00 long-term capital gain. b) Report a $ 9,755.00 short-term capital gain. c) Report a $ 590.75 long-term capital gain. d) Report a $ 590.75 short-term capital gain

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