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Problem 4-30 (LO 4-1) (Algo) Aram's taxable income before considering capital gains and losses is $79,000. Determine Aram's taxable income and how much of the

image text in transcribedimage text in transcribed Problem 4-30 (LO 4-1) (Algo) Aram's taxable income before considering capital gains and losses is $79,000. Determine Aram's taxable income and how much of the income will be taxed at ordinary rates in each of the following alternative scenarios (assume Aram files as a single taxpayer). Required: a. Aram sold a capital asset that he owned for more than one year for a $5,380 gain, a capital asset that he owned for more than one year for a $690 loss, a capital asset that he owned for six months for a $1,580 gain, and a capital asset he owned for two months for a $1,090 loss. b. Aram sold a capital asset that he owned for more than one year for a $2,190 gain, a capital asset that he owned for more than one year for a $2,880 loss, a capital asset that he owned for six months for a $390 gain, and a capital asset he owned for two months for a $2,280 loss. c. Aram sold a capital asset that he owned for more than one year for a $2,690 loss, a capital asset that he owned for six months for a $4,580 gain, and a capital asset he owned for two months for a $490 loss. d. Aram sold a capital asset that he owned for more than one year for a $3,570 gain, a capital asset that he owned for more than one year for a $490 loss, a capital asset that he owned for six months for a $390 gain, and a capital asset he owned for two months for a $2,280 loss. Complete this question by entering your answers in the tabs below. Aram sold a capital asset that he owned for more than one year for a $5,380 gain, a capital asset that he owned for more than one year for a $690 loss, a capital asset that he owned for six months for a $1,580 gain, and a capital asset he owned for two months for a $1,090 loss. Through November, Cameron has received gross income of $125,000. For December, Cameron is considering whether to accept one more work engagement for the year. Engagement 1 will generate $8,300 of revenue at a cost to Cameron of $3,500, which is deductible for AGI. In contrast, engagement 2 will generate $6,000 of qualified business income (QBI), which is eligible for the 20 percent QBI deduction. Cameron files as a single taxpayer, and he did not contribute to charity during the year. Calculate Cameron's taxable income assuming he chooses engagement 1 and assuming he chooses engagement 2 . Assume he has no itemized deductions

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