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Carl has the following situation as a single taxpayer: Taxable Income not counting property transactions: $100,000 Schedule C: Sale of Equipment: Original Cost $20,000 Section

Carl has the following situation as a single taxpayer:

Taxable Income not counting property transactions: $100,000

Schedule C: Sale of Equipment:

Original Cost $20,000

Section 179 Depreciation $20,000

Sold for $12,000

Stock sale:

Original Cost $15,000

Sales Price $30,000

Holding Period > 1 year

Rental Property:

Original Cost $200,000

Adjusted Basis $150,000

Sales Price $300,000

What is Carl's Total Tax amount using 2021 tax rates? (Assume no phase-outs or other adjustments to taxable income due to the property transactions).

 

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