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Assume the following sales took place during 2020 for a variety of individual capital assets for Ron (all normal capital assets with gains subject to

Assume the following sales took place during 2020 for a variety of individual capital assets for Ron (all normal capital assets with gains subject to 0%, 15% or 20% tax rates):

Property

Purchase Date

Property

Sale Date

Adjusted Basis

Sales Proceeds

Gain/Loss

Character of Gain/Loss

12/6/2020

12/9/2020

$1,000

$1,060

1/7/2000

6/15/2020

$5,000

$6,200

11/6/2013

8/20/2020

$5,000

$4,200

5/1/2020

10/31/2020

$2,500

$2,200

6/8/2011

3/22/2020

$8,600

$10,000

7/10/1999

1/19/2020

$2,000

$4,100

3/16/2016

3/16/2020

$5,300

$6,000

*A prior year long-term capital loss will be carried over into this year in the amount of ($4,000).

  1. Determine the net capital gain or loss resulting from these transactions.

  1. Explain the tax rate(s) that would apply to your end result or if any part of your end result is deducible against ordinary income.

  1. Enter this information into Form 8949 and then into Schedule D for 2020.

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