How much tax will he owe on these transactions

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Problem - Anakin sold stock that he held for 5 years for $40,000. His basis in the stock was $15,000. He also sold stock that he held for 5 months for $40,000. His basis in the stock was $50,000. Finally, he sold stock that he held for 7 months for $60,000. His basis in the stock was $5,000. If Anakin has taxable income of $430,000 and his filing status is single, how much tax will he owe on these transactions?

Reference no: EM132846736

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