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Robin, an ice cream shop owner, had the following transactions happen in 2020 (all regular capital assets): Sales Price Basis Purchased Sold Turtle Stock $25,000

Robin, an ice cream shop owner, had the following transactions happen in 2020 (all regular capital assets):

Sales Price

Basis

Purchased

Sold

Turtle Stock

$25,000

$8,000

7/15/2005

1/12/2020

Waffle Cone Stock

$16,000

$10,000

7/1/2019

4/20/2020

Rocky Road Stock

$3,000

$8,000

2/12/2011

11/29/2020

Vanilla Stock

$4,700

$3,200

8/2/2002

5/2/2020

Chocolate Stock

$7,000

$9,000

5/30/2020

10/20/2020

Long-Term Capital Loss Carryforward from prior year

$6,000

  1. What would Robin report for capital gains and/or losses on her tax return in 2020?

What would Robins total tax liability be if her taxable income, not including any capital gains and losses, was $89,000 for 2020? Assume Robin is single and not self-employed

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