[Problem 2](26 points). The situations in Question 1(Rhaenyra Targaryen) and Question 2(Jon Snow) in this...

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Accounting

[Problem 2](26 points). The situations in Question 1(Rhaenyra Targaryen) and Question 2(Jon Snow) in this problem are independent.
In 2023, Rhaenyra Targaryen (single) sells the following capital assets she had:
Google stock: date acquired 12/15/2021, date sold 04/01/2023, selling price $2,000, adj.basis $7,500
Amazon stock: date acquired 01/20/2023, date sold 10/30/2023, selling price $4,000, adj.basis $6,000
City of Boston bond: date acquired 10/22/2021, date sold 03/07/2023, selling price $1,000, adj.basis $9,000
Personal car: date acquired 05/17/2023, date sold 12/13/2023, selling price $7,000, adj.basis $3,500
Personal boat: date acquired 08/04/2023, date sold 12/22/2023, selling price $50,000, adj.basis $60,000
Jewelry: date acquired 09/25/2017, date sold 02/03/2023, selling price $6,000, adj.basis $10,000
In addition, Rhaenyra Targaryen has an unrecaptured Section 1250 gain, $7,000, during 2023.
(1-1) Determine Rhaenyra Targaryens (a) net capital gain (loss) that is recognized in her 2023 tax return and (b) the type (short-term or long-term) and the amount of net capital loss to be carried forward to 2024[12 points].
(1-2) In 2024, Rhaenyra Targaryen has $2,000 of net short-term capital gain, $2,500 of 28% net long-term capital gain, and $3,000 of 25% net long-term capital gain. Determine the type (short-term or long-term) and the amount of net capital gain to be recognized in 2024[5 points].
[Problem 2](26 points)(contd).
(2) During the year, Jon Snow (single) has the following capital gain (loss):
Short-term capital gain $7,000
Short-term capital loss $2,000
Collectibles gain $4,000
Unrecaptured Section 1250 gain $2,500
Regular long-term capital gain $5,000
Regular long-term capital loss $2,000
Assuming Jon Snows marginal tax rate is 32%, determine Jon Snows tax liability [9 points].

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