R&T Inc. made the following sales of capital assets this year. $$\begin{array} { c c r }
& \text { Tax Basis } & \text { Sale Price } \
\text { Asset 1 } & \mathbf { \$ 6 0 , 0 0 0 } & \$ 68,100 \
\text { Asset 2 } & \mathbf { 2 5 0 , 0 0 0 } & \mathbf { 2 6 3 , 5 0 0 } \
\text { Asset 3 } & \mathbf { 5 0 , 0 0 0 } & \mathbf { 2 2 , 4 0 0 }
\end{array}$$ What is the effect of the three sales on R&T's taxable income this year?

Question

R&T Inc. made the following sales of capital assets this year. $$\begin{array} { c c r } 
& \text { Tax Basis } & \text { Sale Price } \
\text { Asset 1 } & \mathbf { \$ 6 0 , 0 0 0 } & \$ 68,100 \
\text { Asset 2 } & \mathbf { 2 5 0 , 0 0 0 } & \mathbf { 2 6 3 , 5 0 0 } \
\text { Asset 3 } & \mathbf { 5 0 , 0 0 0 } & \mathbf { 2 2 , 4 0 0 }
\end{array}$$ What is the effect of the three sales on R&T's taxable income this year?

Quizplus · Accepted Answer

The Answer of R&T Inc. made the following sales of capital assets this year. $$\begin{array} { c c r } 
& \text { Tax Basis } & \text { Sale Price } \
\text { Asset 1 } & \mathbf { \$ 6 0 , 0 0 0 } & \$ 68,100 \
\text { Asset 2 } & \mathbf { 2 5 0 , 0 0 0 } & \mathbf { 2 6 3 , 5 0 0 } \
\text { Asset 3 } & \mathbf { 5 0 , 0 0 0 } & \mathbf { 2 2 , 4 0 0 }
\end{array}$$ What is the effect of the three sales on R&T's taxable income this year?

R&T Inc Made the Following Sales of Capital Assets This Year