Question
6) Mary sold the following securities during 2018: Date Acquired Date Sold Sales Price Basis A 5-15-2013 4-30-2018 $ 8,000 $12,000 B 7-12-2018 11-1-2018 $
6) Mary sold the following securities during 2018:
| Date Acquired | Date Sold | Sales Price | Basis |
A | 5-15-2013 | 4-30-2018 | $ 8,000 | $12,000 |
B | 7-12-2018 | 11-1-2018 | $ 4,000 | $ 11,000 |
C | 1-15-2018 | 7-18-2018 | $16,000 | $13,000 |
D | 4-2-2014 | 11-21-2018 | $40,000 | $45,000 |
What is Marys adjusted net capital gain or loss result for the year? Show work
A) $0
B) $9,000 ANCG
C) -$13,000 ANCL
D) NSTCL of $3,000 and NLTCG of $15,000
8) Rose is a single mother (whose child lives with her all year round and is her dependent). She files her tax return as Head of Household. Her 2020 income from wages is $475,650. She has net long-term capital gains of $85,000. Total 2020 gross income is $560,350. Rose is under 65 years of age and does not itemize her deductions. What is Rose's total federal income tax? Show work
A) $112,829
B) $123,344.
C) $138,644
D) $149,701
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