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Aram's taxable income before considering capital gains and losses is $78,000. Determine Aram's taxable income and how much of the income will be taxed at

Aram's taxable income before considering capital gains and losses is $78,000. Determine Aram's taxable income and how much of the income will be taxed at ordinary rates in each of the following alternative scenarios (assume Aram files as a single taxpayer).

Required:

  1. Aram sold a capital asset that he owned for more than one year for a $5,360 gain, a capital asset that he owned for more than one year for a $680 loss, a capital asset that he owned for six months for a $1,560 gain, and a capital asset he owned for two months for a $1,080 loss.
  2. Aram sold a capital asset that he owned for more than one year for a $2,180 gain, a capital asset that he owned for more than one year for a $2,860 loss, a capital asset that he owned for six months for a $380 gain, and a capital asset he owned for two months for a $2,260 loss.
  3. Aram sold a capital asset that he owned for more than one year for a $2,680 loss, a capital asset that he owned for six months for a $4,560 gain, and a capital asset he owned for two months for a $480 loss.
  4. Aram sold a capital asset that he owned for more than one year for a $3,540 gain, a capital asset that he owned for more than one year for a $480 loss, a capital asset that he owned for six months for a $380 gain, and a capital asset he owned for two months for a $2,260 loss.

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