Income Concepts (LO. 4) George purchases stock in Dodo Corporation in 2014 at a cost of sso.000. In 2018, he sells the stock for $32.000 By assuming that George sells no other assets in 2018, the effect e, the sale of teck on George's taxable incern.. decrease V by n 2018. Gains and losses from the sale of capital-ssets are separated from other gans and losses where netting procedureis appled before the gain or loss is entered into the taxpayer's income calculation, Capital gains are taxed at a preferential rate whils capita