During 2015?, George receives a $60,000 salary and has no deductions for AGI. In 2014? George had a $5,500 STCL available and no other capital losses or capital gains. Consider the following sales.
An automobile purchased in 2010 for $11,200 and held for personal use is sold for $9,000.
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On April? 10, 2015?, stock held for investment is sold for $30,000. The stock was acquired on November? 20, 2014?, for $16,000.