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What are the amount and nature of the gain or loss

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Problem - During the year, Eugene had the four property transactions summarized on the next page. Eugene is a collector of antique glassware and occasionally sells a piece to get funds to buy another. What are the amount and nature of the gain or loss from each of these transactions?

Property

Date Acquired

Date Sold

Adjusted Basis

Sales Price

Antique vase

06/18/08

05/23/19

$37,000

$42,000

Blue Growth Fund (100 shares)

12/23/10

11/22/19

22,000

38,000

Orange bonds

02/12/11

04/11/19

34,000

42,000

Green stock (100 shares)

02/14/19

11/23/19

11,000

13,000

*The sales price included $750 of accrued interest.

Reference no: EM132671214

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