Kevin is single and has taxable income of $17,000 without considering the sale of a capital...
Kevin is single and has taxable income of $17,000 without considering the sale of a capital asset in October of 2017 for $12,500. That asset was purchased five years earlier and has a tax basis of $7,500. The tax liability applicable to only the capital gain is
A) $0.
B) $500.
C) $1,000.
D) $1,500.
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