4) Compute the gains/(losses) related to the Nelson familys sale of assets and the appropriate classifications

Nelsons who utilize the specific identification method for valuing their investments to minimize gains, had the following assets/investments activities occur during this year:

4/5/2022 sold for $20,000 common stock in York Co. that was purchased for $14,000, on 2/14/2009, The shares of York Co are qualified small business stock under 1202.

7/1/2022 sold 200 shares of common stock in New Co. for $17,000. They had purchased 100 shares on 8/7/2016 for $6,500 and 200 shares on 8/7/2017 for $ 15,000.

9/15/2022 sold 150 shares of common stock of City Co for $14,000 total that were purchased for $19,500 on 3/18/2022.

8/5/2022 sold for $28,000 antique coins that Jeannie inherited from her great-aunt on January 16, 2022 when its FMV was $26,500. Her great aunt had a basis in the coin of $2,000.

10/1/2022, they sold a portion of a parcel of land with a small building for $62,000 that had a basis of $23,000 and was purchased in 2002. $25,000 of the gain is unrecaptured 1250 property.

8/15/2022 sold stock in Space Explorers Inc. for $31,500 that they had purchased on 8/14/2015 for $18,000.

The Nelsons have a Long-term loss carryover of $14,000 from 2021.

Interest income earned from their various accounts is a total of $1,400. None of these amounts are related to municipal bonds.