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Helen Winter sold the following items prior to moving to Europe: ...

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Question

Accounting

Helen Winter sold the following items prior to moving to Europe:
Original Cost
Proceeds of Disposition
Sportscar
$20,000
$15,000
Antique cabinet
1,000
2,000
A rare coin
200
1,100
Shares in a public corporation
5,500
4,500
Canoe
600
800
Limited edition painting
850
2,500
Sculpture
1,100
900
Required:
Calculate the amount of taxable income from Helen's sales, identifying the appropriate categories of capital property.

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