5

Question 5 (1 point) Marlon bought a personal use asset for $2,600 on February 20th, 2019 and sold it for $3,200 on January 3rd of 2020. He also had several musical instruments acquired for personal use during 2016 that he sold in 2020 for $3,000. His purchase price for these instruments was $4.000. As a result of these transactions, Marlon has an ordinary gain of $600 a short-term capital gain of $600 as the loss is not allowed a net long-term capital loss of $400 none of the above Question 6 (1 point) Louise has a tax liability before any tax credits and payments of $500. Lois has the