Question
In 2014, Kawsh has the following transactions involving capital asset. Josh has a MTR of 25% when considering all of this income gain on the
In 2014, Kawsh has the following transactions involving capital asset. Josh has a MTR of 25% when considering all of this income
gain on the sale of stocks (held for 2 years): $6,000
loss on the sale of bonds (held for 5 years): (2,000)
gain on the sale of his car that
is used for personal purposes (held for 5 months): 6,000
loss on the sale of his boat that
is used for personal purposes (held for 11months): (5,000)
loss on the sale of his printer that
is used for business purpose (held for 15 months): (3,000)
How much tax does Kawsh have to pay on this net short-term capital gains/losses? What about long-term?
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