Sara Nade had 2021 capital asset transactions as noted below. Determine the amount of her gain or loss for tax purposes. Sara owned a $10, 000 20 year U.S Treasury note that was due to mature in 2024. Needing some additional cash, she sold this debt instrument on October 31, 2021. With the dramatic decline in interest rates since this note's acquisition at par in 2004, Sara received 105 percent of the note's face value, along with accrued interest of $180
Sara Nade had 2021 capital asset transactions as noted below. Determine the amount of her gain or loss for tax purposes. Sara owned a $10, 000 20 year U.S Treasury note that was due to mature in 2024. Needing some additional cash, she sold this debt instrument on October 31, 2021. With the dramatic decline in interest rates since this note's acquisition at par in 2004, Sara received 105 percent of the note's face value, along with accrued interest of $180
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions
Section: Chapter Questions
Problem 30P
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Sara Nade had 2021 capital asset transactions as noted below. Determine the amount of her gain or loss for tax purposes.
Sara owned a $10, 000 20 year U.S Treasury note that was due to mature in 2024. Needing some additional cash, she sold this debt instrument on October 31, 2021. With the dramatic decline in interest rates since this note's acquisition at par in 2004, Sara received 105 percent of the note's face value, along with accrued interest of $180.
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