6. Hank has a 32% marginal tax rate and has already recognized a STCL of $8,000 and a LTCG of $5,000, both due to the sale of stock. He is considering the sale of an antique clock held for investment that would result in a $7,000 LTCG. What is the increase in his tax liability if he goes ahead with the proposed transaction this year? a. $ 1,120 b. $ 600 c. $ 1,720 d. $ 1,560 e. None of the above 11. In 2018, Carol, a single individual, has TI of $150,000. Included in her TI are the following items: $18,000 qualified dividend income $19,000 gain from sale of collectible held 2 years $14,000 loss from sale of stock held 4 years $13,000 loss from sale of stock held 5 months $11,000 loss from sale of collectible held 3 years $9,000 gain from sale of stock held 7 months $23,000 gain categorized as unrecaptured Section $ 8,000 STCL carryover from 2017 1250 gain $12,000 LTCL carryover from 2017 $25,000 gain from sale of stock held 2 years What is Carol's net capital gain for 2018 (be very specific)? a. $36,000 ($7,000 LT25, $29,000 LT15) b. $36,000 ($18,000 LT25, $18,000 LT15) c. $18,000 ($7,000 LT25, $11,000 LT15) d. $18,000 (all LT25) e. None of the above 15. Ken owns 1,000 shares of West Corporation common stock which he purchased in 20X4 for $18,000. On 3-30-X7 he purchases an additional 350 shares for $4,000. On 4-20-X7 he sells the original 1,000 shares for $10,000. On 5-15-X7 he purchases 400 shares of West stock for $7,000. What is Ken's recognized gain or loss as a result of the sale of the stock and what is the basis for the shares purchased on 5-15-X7, respectively? a. $2,000 loss; $ 9,800 basis b. $6,000 loss; $10,200 basis c. $8,000 loss; $ 7,000 basis d. $2,000 loss; $10,200 basis e. None of the above