Serenity has the following capital gains and losses for the, Ask an Expert

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Serenity has the following capital gains and losses for the current year:
Short term capital loss: $(8000)
Long term capital gain: 3000
collectible gain: 2000
collectible loss: (4000)
If Serenity is single and has taxable income from other sources of $75,000, what is the impact of her capital gains and losses on her income tax liability?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9868937

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