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Antoine sold the following stock in 2020. ABC, Incorporated, is a $ 1202 qualified small business (QSB). Asset Cost Acquired Sale Price Sale Date ABC,
Antoine sold the following stock in 2020. ABC, Incorporated, is a $ 1202 qualified small business (QSB). Asset Cost Acquired Sale Price Sale Date ABC, Incorporated, 200 shares $ 153,090 81/10/2809 $ 200,800 04/30/2020 DEF, Incorporated, 100 shares 24, 600 11/15/2016 14,090 @2/28/2020 GHI, Incorporated, 50 shares 19,350 @3/31/2019 17,090 08/30/2020 Required: a. Complete the chart. b. After netting, what is the total gain or loss? c. If Antoine is in the 37% tax rate bracket, at what rate is the net gain or loss taxed? Complete this question by entering your answers in the tabs below. Req a Req b and c Complete the chart. (Negative amounts should be indicated by a minus sign.) Asset Amount of Realized Amount of Recognized Gain (Loss) Gain (Loss) IRC Section ABC S 47,000 S 23.500 1202 DEF (10.600) S (10.600) 1221 GHI S (2.350) S (2.350) 1221Req a Reg b and c b. After netting, what is the total gain or loss? ic. If Antoine is in the 37% tax rate bracket, at what rate is the net gain or loss taxed? b. Gain C. Tax rate (%)
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