Ann had the following transactions during 2011: a painting held for three years and sold at a gain of $85,000; 100 shares of Gray stock held six months and sold for a loss of $3,000; 50 shares of Yellow stock held 18 months and sold for a gain of $36,000.Ann also had $364,000 of taxable income from other sources than these property transactions.What is Ann's net capital gain or loss and what is her taxable income?

Question

Quizplus · Accepted Answer

The Answer of Ann had the following transactions during 2011: a painting held for three years and sold at a gain of $85,000; 100 shares of Gray stock held six months and sold for a loss of $3,000; 50 shares of Yellow stock held 18 months and sold for a gain of $36,000.Ann also had $364,000 of taxable income from other sources than these property transactions.What is Ann's net capital gain or loss and what is her taxable income?

Ann Had the Following Transactions During 2011: a Painting Held