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Samantha Yen Li Yeo	5:50 PM
Hi guys, I'm so sorry I'm this late, but do you guys need me to do anything? I completely forgot to check the HW and was doing club activities all weekend.
Tiffany Khayma Tem	5:51 PM
my friend was able to show me some solutions for the ones we couldnt figure out so i have all the right answers and will be submitting soon. just filling in the work on the google doc even tho i have no idea what im doing.
lol.
me	5:52 PM
Could you post what the solutions were for parity at least?
Tiffany Khayma Tem	5:53 PM
yeah im filling in the solutions on the google doc right now ^
apparently u can submit connect hw and itll show u how to do the problems?
Samantha Yen Li Yeo	5:53 PM
Okay haha do you want me to try to figure it out?
Tiffany Khayma Tem	5:54 PM
if u can yes pls. number 5 and 6 are very difficult o:
i dont understand what all of it means.
Samantha Yen Li Yeo	5:54 PM
Okay! :) I'll work on it right now.
LOL! Hopefully I'll get some sort of understanding, but we'll see what happens. haha
Tiffany Khayma Tem	5:55 PM
thank you!
Tiffany Khayma Tem	6:04 PM
so i finished posting the solutions for 5 and 6 at the bottom of the google doc but again i really have no idea how to do it :/
should i go ahead and submit it now?
Samantha Yen Li Yeo	6:05 PM
Yeah, if you're ready. I'm working out number 5 right now but it's going to take a while because I'm going back and forth with the notes and the chart and all haha.
me	6:06 PM
Turn it in now if it's correct, I think your work has enough to explain how the problems work at very least.
Tiffany Khayma Tem	6:07 PM
ok
Samantha Yen Li Yeo	6:10 PM
I think that when you add the short and long term, it should be long term loss of $1000 instead of short.
Tiffany Khayma Tem	6:12 PM
which number are u talking about?
Samantha Yen Li Yeo	6:12 PM
because stocks L and M are both long term and (11,000)-9,000 is (2,000) and stocks N and O are short term so 8,000 - (7,000) = 1,000. Net them together for the capital gain/loss = (2,000) + 1,000 so (1,000) long term loss
#5
sorry
lol
i should've specified.
me	6:18 PM
Huh, no deductions for AGI or personal?
Samantha Yen Li Yeo	6:20 PM
No that's only for the loss/gain we would deduct or add to the Income and depreciation
after that, you do the standard or itemized, which in this case is standard because we don't have all the info for itemized.
then you subtract personal exemptions from it too.
Check the tax schedule for income of $19,400 and under Married Filed Jointly, it's $2006. That's the 2014 rate since that's the only one he gave us.
Then we have to add the antiques back to the 2006 because that's a gain.
I'm currently trying to figure out why it's .28%
me	6:24 PM
28% is the capital gains rate on collecitbles.
Chao didn't mention it in class but that's the IRS rule.