Aram's taxable income before considering capital gains and losses is $76,000. Determine Aram's taxable income and...

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Aram's taxable income before considering capital gains and losses is $76,000. 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: a. Aram sold a capital asset that he owned for more than one year for a $5,320 gain, a capital asset that he owned for more than one year for a $660 loss, a capital asset that he owned for six months for a $1,520 gain, and a capital asset he owned for two months for a $1,060 loss. b. Aram sold a capital asset that he owned for more than one year for a $2,160 gain, a capital asset that he owned for more than one year for a $2,820 loss, a capital asset that he owned for six months for a $360 gain, and a capital asset he owned for two months for a $2,220 loss. c. Aram sold a capital asset that he owned for more than one year for a $2,660 loss, a capital asset that he owned for six months for a $4,520 gain, and a capital asset he owned for two months for a $460 loss. d. Aram sold a capital asset that he owned for more than one year for a $3,480 gain, a capital asset that he owned for more than one year for a $460 loss, a capital asset that he owned for six months for a $360 gain, and a capital asset he owned for two months for a $2,220 loss. Aram's taxable income before considering capital gains and losses is $76,000. 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: a. Aram sold a capital asset that he owned for more than one year for a $5,320 gain, a capital asset that he owned for more than one year for a $660 loss, a capital asset that he owned for six months for a $1,520 gain, and a capital asset he owned for two months for a $1,060 loss. b. Aram sold a capital asset that he owned for more than one year for a $2,160 gain, a capital asset that he owned for more than one year for a $2,820 loss, a capital asset that he owned for six months for a $360 gain, and a capital asset he owned for two months for a $2,220 loss. c. Aram sold a capital asset that he owned for more than one year for a $2,660 loss, a capital asset that he owned for six months for a $4,520 gain, and a capital asset he owned for two months for a $460 loss. d. Aram sold a capital asset that he owned for more than one year for a $3,480 gain, a capital asset that he owned for more than one year for a $460 loss, a capital asset that he owned for six months for a $360 gain, and a capital asset he owned for two months for a $2,220 loss.

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Definitions Shortterm capital gainslosses Held for one year or less taxed at ordinary income rates Longterm capital gainslosses Held for more than one year taxed at lower capital gains rates Arams tax... View the full answer