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Question 1: Barbara sold three assets during 2019. How much and what kind of gain or loss does she recognize from each sale? What tax rate applies to the neg gain if Barbara is a single individual with $169,000 ordinary income taxed at a 32 percent marginal tax rate?
A. On February 25 she sold 200 shares of xYZ stock for $19,000, She bought that stock for $16,000on February 23, 2018.
B. On July 20 she sold an antique automobile for $30,000 that she purchased for $31,000 on July 21, 2018.
C, On August 2, she sold qualified small business stock for $28,000 that she had purchased for $20,000 on December 19, 2008.
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