Rikki has the following capital gains and losses for the
current year:
Short-term capital gain $ 1,000
Long-term capital gain 11,000
Long-term capital loss &
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Rikki has the following capital gains and losses for the
current year:
Short-term capital gain $ 1,000
Long-term capital gain 11,000
Long-term capital loss 3,000
Collectibles gain 8,000
Collectibles loss 2,000
What is the effect of the capital gains and losses on
Rikkis taxable income and her income tax liability? Assume that Rikki is in
the 35% marginal tax rate bracket.
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