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During 2018, Allison who is single with no dependents and had S165,000 of taxable income before considering the following property related items: Amount Realized Adjusted

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During 2018, Allison who is single with no dependents and had S165,000 of taxable income before considering the following property related items: Amount Realized Adjusted Basis Realized Gain Character( 15%, 25%, (Loss) or Income 28%, ordinary, short- Part A. Fill in the amount realized, adjusted basis, realized gain (loss) and character of the gain or loss in the boxes below I Received qualified dividends from Company X of $2,400. , Sold 1,200 shares of Company Y on October 20, 2018 for $78 per share. The term capital loss STCL $2,400 stock was purchased on April 10, 2012 for $57 per share Sold 750 shares of Company Z on November 25, 2018 for $43 per share. The stock was purchased on March 15, 2018 for $53 per share. Sold a stamp collection on June 9, 2018 for $10,800. The stamp collect was 4 inherited on February 5, 2005 when it was valued at $6,900. It originally cost $4,600 A 25% gain (unrecaptured taxed at 25%.) 1250 gain) of$6.200. (This is a long-term capital gain $6,200 25% Total Part B. Calculate the taxable income, portion of TI that is taxed as ordinary income, the portion of TI that will be taxed with LTCGs at preferential tax rates (not taxed as ordinary income), and tax on taxable income before credits: STCL Long-Term @ 15% Long-Term @ 25% Long-Term @ 28% Total Gains (Losses) 2018 Taxable Income (TI of TI that is taxed as ordinary income n of TI that is taxed with LTCGs at preferential tax rates (not axed as ordinary income) ax on taxable income before credits (alternative tax on taxable income)

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