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What is income during the year for kendra

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Reference no: EM132700270

Problem 1: Kendra had the following transactions during the year. What is her income during the year?

Salary $60,000

LTCG from the sale of stock $25,000

Sale of 1231 asset $15,000 gain ($12,000 is section 1245 depreciation)

Sale of 1231 asset ($8,000) loss

Select one:

a. $

b. $67,000 Ordinary Income, $25,000 LTCG (1/15/20%)

c. $72,000 Ordinary Income; $20,000 LTCG (0/15/20%)

d. $40,000 Ordinary Income; $28,000 LTCG

Reference no: EM132700270

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