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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
- 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 |
- What is Rafaels net short-term capital gain or loss from these transactions?
- What is Rafaels net long-term gain or loss from these transactions?
- What is Rafaels overall net gain or loss from these transactions?
- 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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