What are the effects of these transactions

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Reference no: EM13509437

Erin, a single taxpayer, has a taxable income of $103,000 in the current year before considering the following capital gains and losses:
Short-term capital gain $ 3,000
Long-term capital gain 22,000
Unrecaptured Section 1250 gain 14,000
In addition, Erin has an $8,000 long-term capital loss carryover from last year.
What are the effects of these transactions on Erin's taxable income and her income tax liability?

Reference no: EM13509437

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