Shaun Murphy sells the following capital assets in $2023$:

$$ A truck for $$10,000$ on June $1,2023.$ He originally purchased it in $2017$ for $$12,000$ and used it for personal purposes.

$$ NFT $($treated as a collectable and held for investment$)$ on September $15,2023$ for $$1,100.$ Shaun originally purchased the NFT for $$5,000$ on March $16,2020.$

$$ A rental property for $$120,000($he has to pay $$10,000$ to a realtor as a sales commission$)$ on June $12,2023.$ He originally purchased the property for $$100,000$ on April $12,2014.$ All of the gain is unrecaptured Sec. $1250$ gain.

$$ Coke stock for $$5,000$ on October $31,2023$ that he originally purchased on February $10,2022$ for $$3,000.$

$$ Nike stock for $$6,000$ on April $15,2023$ that he originally purchased on January $1,2023$ for $$10,000.$

A$)$ Calculate the capital gain or loss on each asset and complete the required capital gains netting process. After all netting how will Shaun be taxed on the sale of the assets? He has no other sale of capital assets.

B$)$ What if Shaun also has a long$-$term capital loss carryforward of $$15,000?$ After all netting how will Shaun be taxed on the sale of the assets? He has no other sale of capital assets.

Fill out the following tables. The first table calculates the gain or loss realized, recognized, and character for each asset. The second table calculates the capital gain and loss netting process.

$$

Calculation of gain or loss realized, recognized and character. If the character is long$-$term $($LT$),$ you should also input whether it is taxed at $28\%,25\%,$ or $0/15/20\%.$

Amount Real. Adj. Basis Gain Real Gain Rec. ST$/$LT

Truck $12,00010,000$

NFT

Rental

Coke

Nike

Capital gain and loss netting process. Make sure the final amounts that will be reported on the tax return are clearly stated.

ST LT $28\%$ LT $25\%$ LT $0/15/20\%$

Capital gain and loss netting process for scenario B$.$ Make sure the final amounts that will be reported on the tax return are clearly stated.

ST LT $28\%$ LT $25\%$ LT $0/15/20\%$