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2. Henry, a single taxpayer with a marginal tax rate of 35 percent, sold the following investments during the year. Classify each gain or loss
2. Henry, a single taxpayer with a marginal tax rate of 35 percent, sold the following investments during the year. Classify each gain or loss into its correct basket using the following labels: ST; 28% LT; 25% LT;0/15/20% LT; or ORDINARY (not a capital gain(loss)) Purchase Date 3/18/16 INVESTMENT Land held for investment Sale Date 9/6/19 Taxable Gain (Loss) $(21,000) - BASKET BASKET Apple common stock 5/8/17 8/4/19 16,000 Vanguard Mutual Fund 9/15/18 6/18/19 4,000 8/2/11 6/5/19 50,000 ABC stock (qualifies under $1202) SBC stock (qualifies under $1244) Stamp collection 6/9/15 2/2/19 (10,000) 1/2/17 12/20/19 (5,000)
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