Aram's taxable income before considering capital gains and losses is $80,000. 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).

Problem 4-30 Part d (Algo)

d. Aram sold a capital asset that he owned for more than one year for a $3,600 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 $400 gain, and a capital asset he owned for two months for a $2,300 loss.

What is taxable income?

What is income taxed at ordinary rates?