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Problem 1 (8 Points) Barry experienced the following sales of stock and other property during the 2019 tax year. Additionally, Barry has a long-term capital
Problem 1 (8 Points) Barry experienced the following sales of stock and other property during the 2019 tax year. Additionally, Barry has a long-term capital loss carryover of $5,000. Excluding the sales noted below, Barry (single) also has ordinary taxable income of $155,000. What is Barry's total tax liability for 2019? Asset Basis Proceeds Stock 1 Stock 2 Stock 3 Stock 4 Collectible Antique Vase Land held for Investment Acquisition Date 1/1/2010 2/2/2012 10/30/2018 11/30/2018 5/5/2015 Disposition Date 2/15/2019 2/28/2019 3/15/2019 12/15/2019 8/30/2019 $6,800 $15,900 $15,000 $9,000 $25,000 $12,500 $2,000 $22,500 $7,500 $35,000 9/25/2009 9/14/2019 $120,000 $160,000
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