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Rafael is single and has $65,000 of salary, along with the sale of the following stocks in the current tax year (Note: CY=2019 ): Date

  1. Rafael is single and has $65,000 of salary, along with the sale of the following stocks in the current tax year (Note: CY=2019):

Date Purchased

Basis

Date Sold

Amount Realized

Stock A

1/23/2001

$7,250

7/22/20CY

$7,000

Stock B

4/10/20CY

14,000

9/13/20CY

12,400

Stock C

8/23/2014

10,750

10/12/20CY

18,700

Stock D

5/19/2006

5,230

10/12/20CY

8,160

Stock E

8/20/20CY

7,300

11/14/20CY

9,400

  1. What is Rafaels net short-term capital gain or loss from these transactions?
  2. What is Rafaels net long-term gain or loss from these transactions?
  3. What is Rafaels overall net gain or loss from these transactions?
  4. What amount of the gain, if any, is subject to the preferential rate for certain capital gains? (Ignore the effects of personal exemption and standard deduction).

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