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Victoria sold stock from WKU, Inc. for a $7,000 loss. She had owned the stock for 6 months. She sold stock in Big Red Co.
Victoria sold stock from WKU, Inc. for a $7,000 loss. She had owned the stock for 6 months. She sold stock in Big Red Co. (purchased 10 years earlier) for a $12.000 gain. She also sold a coin collection for a gain of $32,000. She started the collection when she was only 6 years old and collected her last coin about 4 years ago How will the resulting net gains/losses from these transactions be taxed? $5,000 taxed at 0/15/20% and 532,000 taxed at a maximum rate of 28% Loss of $3,000 deducted against ordinary income; $12,000 taxed at 0/15/20%; $32,000 taxed at a maximum rate of 28%. Loss of $7,000 deducted against ordinary income: $12,000 taxed at 0/15/20%; 532,000 taxed at a maximum rate of 28% $12,000 taxed at 0/15/20% and 525,000 taxed at a maximum rate of 28%
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