Jillian, a single taxpayer, has a net long-term capital gain for the year and it is...
Jillian, a single taxpayer, has a net long-term capital gain for the year and it is all made up of 25% long-term capital gain. She has positive taxable income for the year. Which of the following i not a positive tax rate that could be applied in taxing this gain as part of her taxable income?
A) 0%
B) 15%
C) 20%
D) 25%
E) A. and C.
Homework Answers
Solution: 25%
Explanation: Long-term gains are the gain on assets that are held for over a year. The tax bracket rate on long-term gains depending on income is 0%, 15% and 20%
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