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During the year, Jon Snow (single) has the following capital gain (loss): Short-term capital gain $7,000 Short-term capital loss $2,000 Collectibles gain $4,000 Unrecaptured Section
During the year, Jon Snow (single) has the following capital gain (loss):
Short-term capital gain $7,000
Short-term capital loss $2,000
Collectibles gain $4,000
Unrecaptured Section 1250 gain $2,500
Regular long-term capital gain $5,000
Regular long-term capital loss $2,000
Assuming Jon Snows marginal tax rate is 32%, determine Jon Snows tax liability.
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