Antonio is single and has a taxable income of 150000, Ask an Expert

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Antonio is single and has a taxable income of $150,000 without considerin the sale of a capitl asset (land held for investment) in September of 2011 for $25,000. That asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the caital gain is?

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Accounting Basics, Accounting

Category:- Accounting Basics
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