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Sarah sold the below property during 2017. None of the property was sold to a related party or in a wash sale. Sarah is in

Sarah sold the below property during 2017. None of the property was sold to a related party or in a wash sale. Sarah is in the 15% marginal tax bracket.

Adjusted Basis

Amount Realized

Sale of personal-use car held 2 years

18,000 12,000

Stock F held for 6 months

5,000 3,000

Stock G held for 3 months

6,000 3,000

Stock H held for 5 years

7,000 12,000

Stock I held for 3 months

5,000 8,000

A. After the netting process, what is the amount of Sarahs net capital gain/loss?

B. What is the tax rate applicable to Sarahs net gain/loss?

Note: understand how your answer would change if, in addition to the above property transactions, Sarah also sold Stock J for a $5,000 short-term capital gain.

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