Thuy bought a rental house in 2008 for $75,000. In 2015, she sells it for $86,000. Thuy properly deducted $22,000 in depreciation on the house before its sale.
a. What is the amount and character of the gain on the sale?
b. Thuy also sells the following securities:

Determine the amount of tax that Thuy will pay on her capital asset transactions. Assume that she is in the 35% marginal tax rate bracket.

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Security Purchase Date Sales Date Basis Sales Price Delphi Corporation 4/13/12 4/08/15 S 3,000 7,000 Mondo, Inc. Horace Company4/13/15 8/13/15 14,000 19,000 6/11/14 7/15/15 12,000 10,000