LO4,8,9 Assume that the building in problem 67 is an apartment building held for investment. In addition to the sale of the building, Anton has the following capital gains and losses during 2010:

Anton is married and has a taxable income of $140,000 without considering his capital gains and losses. What is his taxable income and income tax liability?

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Short-term capital loss $ 4,000 Collectibles gain 7,000 Long-term capital gain 15,000 Long-term capital loss carryover from 2009 6,000