8. Mary files as Single . During 2021 her taxable income was $120,000 of which $20,000 was long term capital gains. What is her tax for 2021?

9. Sara sold 1,000 shares of IBM stock for $100,000. She received land valued at $40,000 along with cash. Her basis in the IBM stock was $20,000. What is her gain or loss on the sale ?

10. Tony recognized a long term capital gain of $8,000 on the sale of stock. If his adjusted basis was $12,000, how much did he realize on the sale ?

1. How much can a parent shift of unearned investment income to a child without the child paying the kiddie tax ?