Find amount and nature of gain or loss from each transaction

Reference no: EM13258748

During the year, Eric had the four property transactionssummarized below. Eric is a collector of antique automobiles andoccasionally sells one to get funds to buy another. What are theamount and nature of the gain or loss from each of thesetransactions?

Property           DateAcquired DateSold    Adjusted Basis    SalesPrice
Antiquetruck         06/18/98      05/23/08 $47,000            $35,000
Blue Growth Fund 12/23/00      11/22/08 12,000 23,000
(100 shares)
OrangeBonds         02/12/01 04/11/08 34,000 42,000*
Greenstock           02/14/08     11/23/08 13,000                11,000

Reference no: EM13258748

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