LO.2 Sandra is considering selling two personal use assets that she owns. One has appreciated in value by $14,000, and the other has declined in value by $18,000. Sandra believes that she should sell both assets in the same tax year so that the loss of $18,000 can offset the gain of $14,000.

a. Advise Sandra regarding the tax consequences of her plan.

b. Could Sandra achieve better tax results by selling the assets in different tax years?

Explain.