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Question 7 ( Chapter 3 ) Anakin is a married filing separately filer. He sold a personal computer that he held for five years for

Question 7(Chapter 3)
Anakin is a married filing separately filer. He sold a personal computer that he held for five years for $1,000. His basis in the computer was $3,000. He also sold stock that he held for 3 months for $16,000. His basis in the stock was $24,000. He also sold stock that they held for 2 months for $40,000. His basis in the stock was $6,000. Finally, he sold stock that he held for 11 years for $19,000. His basis in the stock was $2,000. If Anakin has other taxable income of $45,000, how much tax will he owe on these transactions only?
Question 8(Chapter 4)
Phil is a calendar year taxpayer and a lender. He also runs a dry-cleaning business. Customers have the option to pay $1,000 per year for unlimited dry-cleaning. In December 2023, a customer pays him $3,000 for unlimited dry cleaning in 2024,2025 and 2026. In December 2023, a borrower pays him $6,000 interest (monthly interest is $1,000) for November 2023 interest, December 2023 interest, January 2024 interest, February 2024 interest, March 2024 interest, and April 2024 interest. In January 2024, a borrower pays him $4,000 interest (monthly interest is $1,000) for December 2023 interest, January 2024 interest, February 2024 interest and March 2024 interest. If Phil is an accrual method taxpayer, how much income does he report in:
(a)2023?
(b)2024?
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