Calculate the caital gain


Antonio is single and has a taxable income of $150,000 without considerin the sale of a capitl asset (land held for investment) in September of 2011 for $25,000. That asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the caital gain is?

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Accounting Basics: Calculate the caital gain
Reference No:- TGS0690918

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