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Madeline sells her personal scooter for $3,000. She purchased the scooter for $3,600 three years ago. She also sells a painting for $5,184 that she
Madeline sells her personal scooter for $3,000. She purchased the scooter for $3,600 three years ago. She also sells a painting for $5,184 that she acquired five years ago for $4,320. What are the tax implications of these sales? Madeline has a $ realized on the scooter and a $ realized on the painting. Madeline will recognize the gain or loss associated with
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