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Aram's taxable income before considering capital gains and losses is $60,000. Determine Aram's taxable income and how much of the Income will be taxed
Aram's taxable income before considering capital gains and losses is $60,000. 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 $5,000 gain, a capital asset that he owned for more than one year for a $500 loss, a capital asset that he owned for six months for a $1,200 gain, and a capital asset he owned for two months for a $900 loss b. Aram sold a capital asset that he owned for more than one year for a $2,000 gain, a capital asset that he owned for more than one year for a $2,500 loss, a capital asset that he owned for six months for a $200 gain, and a capital asset he owned for two months for a $1,900 loss c. Aram sold a capital asset that he owned for more than one year for a $2.500 loss, a capital asset that he owned for six months for a $4,200 gain, and a capital asset he owned for two months for a $300 loss. d. Aram sold a capital asset that he owned for more than one year for a $3,000 gain, a capital asset that he owned for more than one year for a $300 loss, a capital asset that he owned for six months for a $200 gain, and a capital asset he owned for two months for a $1,900 loss. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Aram sold a capital asset that he owned for more than one year for a $5,000 gain, a capital asset that he owned for more than one year for a $500 loss, a capital asset that he owned for six months for a $1,200 gain, and a capital asset he owned for two months for a $900 loss. Taxable income Income tax ordinary rates A Required B > 4
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