Hilton, a single taxpayer in the 28% marginal tax bracket, has ...

[@Brianna17]

Question 1

A taxpayer sells her principal residence of five years and qualifies to exclude her full $100,000 gain. The taxpayer must report this excluded gain on her tax return for the year of sale.
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Question 2

Hilton, a single taxpayer in the 28% marginal tax bracket, has $16,000 of nonrecaptured net Sec. 1231 losses, at the beginning of a year in which he had the following transactions:

-Sale of Asset A at a $10,000 1231 gain, all of which is unrecaptured Sec. 1250 gain
-Sale of Asset B at a $13,000 1231 gain

How are the items reported this year and at which rate(s) are the amounts taxed?

[Leostella20]

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[@Brianna17]

YES! Correct, THANKS for helping me on my review

[lindahyatt42]

Thanks for the timely response, appreciate it