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Determine the total taxable income from Emily sales

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Reference no: EM133075920

Question - Emily Spring sold the following assets in 2021.

Asset

Original Cost

Proceeds of Disposition

Sportscar

$24,000

$10,000

Antique cabinet

$1,000

$2,000

A rare coin

$100

$1,100

Shares in a public corporation

$4,000

$3,000

Canoe

$500

$600

Limited edition painting

$800

$2,500

Sculpture

$1,100

$900

Required - Determine the total taxable income from Emily's sales, identifying the appropriate categories of capital property.

Reference no: EM133075920

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