Comprehensive problem Betty incurs the following transaction during the current
Comprehensive problem Betty incurs the following transaction during the current year. Without considering the transaction her 2013 AGI is $ 40000. Analyze the transaction and answer the following questions:On March 10 2013 she sells a printing for $ 2000. Betty is the artist and she completed the painting in 2008. Her basis for the painting is $ 50.On June 18 2013 she receives $28500 from the sale of stock purchased by her uncle in 2000 for $ 10000 which she inherited on February 20 2013 as a result of her uncles death. The stocks FMV on date is $ 30000. On July 30 2013 she sells land for $25000 that was received as a gift from her brother on April 8 2013 when the lands FMV was $ 30000. Her brother purchased the land for $43000 on October 12 2005. No gift tax was paid.What is her NSTCL or NSTCG?What is her NLTCL or NLTCGWhat is the effect of capital gains and losses on her AGI?What is her capital loss carry forward to the next year?
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