Robert and Becca are in the 25 percent tax bracket.They have a long-term capital gain of $27,000 and a long-term capital loss of $18,000 on sales of stock in 2013.What will their capital gains tax be in 2013?

Question

Quizplus · Accepted Answer

The net capital gain is $9,000 ($27,000 gain - $18,000 loss). In 2013, the long-term capital gains tax rate for those in the 25% tax bracket was 15%. Therefore, the tax on the net capital gain is $9,000 * 15% = $1,350.

Robert and Becca Are in the 25 Percent Tax Bracket