13

Question 13 (1 point) Clyde made five sales of investment securities during the current year. Two sales produced short-term gains of $1.000 and $3,000 respectively. Three sales were long-term and produced a loss of $15,000, a loss of $5,000, and a gain of $16,000 respectively. What is Clyde's final tax position after these sales? He has a short-term capital gain of $4,000 and a long-term capital loss position of $4,000. He has a net capital position of $0 neither of the above Question 14 (1 point) A taxpayer in the 24% marginal tax bracket sold a small apartment building for $310,000 in 2020. The taxpayer purchased the rental real estate during 2017 at a cost of $270,000 and took $22,000 of depreciation deductions to the date of sale. The gain does not move the taxpayer to a different marginal tax bracket