Solution-What are the net tax consequences of gains for

What are the net tax consequences of gains for barbara

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Reference no: EM132576732

Barbara Bliss had the following recognized gains and losses during 2019:

Business casualty gain (property held 5 months).....................$100

Business casualty loss (property held 19 months)....................($200)

Business casualty gain (property held 21 months)..................$500

Section 1231 gain...........................................................................$750

Section 1231 loss...........................................................................($600)

LTCL.................................................................................................($4,000)

STCL.................................................................................................($250)

Question 1: What are the net tax consequences of these gains and losses for Barbara?

Barbara's adjusted gross income is $30,000 without considering the above items.

Reference no: EM132576732

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What are the net tax consequences of gains for barbara

Reference no: EM132576732

Reference no: EM132576732

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