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 $$64,000.$ Determine Aram's taxable income and 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 b $($Algo$)$

b$.$ Aram sold a capital asset that he owned for more than one year for a $$2,040$ gain, a capital asset that he owned for more than one

year for a $$2,580$ loss, a capital asset that he owned for six months for a $$240$ gain, and a capital asset he owned for two months for a

$$1,980$ loss.