Perry Is in the 33% Tax Bracket A) (15%×$30,000)+(33%×$4,000)
Question 118
Question 118
Multiple Choice
Perry is in the 33% tax bracket.During 2014,he had the following capital asset transactions: Gain from the sale of a stamp collection (held for 10 years) Gain from the sale of an investment in land (held for 4 years) Gain from the sale of stock investment (held for 8 months) Perry’s tax consequences from these gains are as follows:$30,00010,0004,000
A) (15%×$30,000) +(33%×$4,000) B) (15%×$10,000) +(28%×$30,000) +(33%×$4,000) C) (0%×$10,000) +(28%×$30,000) +(33%×$4,000) D) (15%×$40,000) +(33%×$4,000) . E) None of these
Correct Answer:
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