Required information

Problem $4-30($LO $4-1)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Aram's taxable income before considering capital gains and losses is $$63,000.$ Determine Aram's taxable income anc. how much of the income will be taxed at ordinary rates in each of the following alternative scenarios $($assume Aram files as a single taxpayer$).$

Problem $4-30$ Part a $($Algo$)$

a$.$ Aram sold a capital asset that he owned for more than one year for a $$5,060$ gain, a capital asset that he owned for more than one year for a $$530$ loss, a capital asset that he owned for six months for a $$1,260$ gain, and a capital asset he owned for two months for a $$930$ loss.

Answer is complete but not entirely correct.

$\backslash$table$[[$Taxable income,$$,67,860],[$Income taxed at ordinary rates,$$,58,470***$