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Aram's taxable income before considering capital gains and losses is $66,000. 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 $66,000. 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 $5,120 gain, a capital asset that he owned for more than one year for a $560 loss, a capital asset that he owned for six months for a $1,320 gain, and a capital asset he owned for two months for a $960 loss. b. Aram sold a capital asset that he owned for more than one year for a $2,060 gain, a capital asset that he owned for more than one year for a $2,620 loss, a capital asset that he owned for six months for a $260 gain, and a capital asset he owned for two months for a $2,020 loss. c. Aram sold a capital asset that he owned for more than one year for a $2,560 loss, a capital asset that he owned for six months for a $4,320 gain, and a capital asset he owned for two months for a $360 loss. d. Aram sold a capital asset that he owned for more than one year for a $3,180 gain, a capital asset that he owned for more than one year for a \$360 loss, a capital asset that he owned for six months for a $260 gain, and a capital asset he owned for two months for a $2,020 loss
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