erry has given you the following information on his capital gains and losses for the current income year (2020), for the preparation of his tax return. There are no other capital losses. Asset Sale date Purchase date Gain/(loss) Investment property 20/5/2020 21/3/84 $200,000 Shares 06/02/2020 02/8/2019 $20,000 Antique coins 31/01/2020 12/11/2019 ($2,000) What is Jerry’s net capital gain? Select one: $10,000 None of these $18,000 $20,000 $220,000

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 43P
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erry has given you the following information on his capital gains and losses for the current income year (2020), for the preparation of his tax return. There are no other capital losses.

Asset

Sale date

Purchase date

Gain/(loss)

Investment property

20/5/2020

21/3/84

$200,000

Shares

06/02/2020

02/8/2019

$20,000

Antique coins

31/01/2020

12/11/2019

($2,000)

What is Jerry’s net capital gain?

Select one:
$10,000
None of these
$18,000
$20,000
$220,000

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