Sara Nade had 2021 capital asset transaction as noted below. For each asset disposition, determine...
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Accounting
Sara Nade had 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax purposes.
1. In September Sara sold her old pontoon boat to get cash to buy a new car. She received $12, 400 for it. She had purchased this personal-use pleasure boat new in 2009 for $27, 777.
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