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What Is the Federal Income Tax Owed by an Investor

Question 41

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What is the federal income tax owed by an investor in the 35 percent income tax bracket The tax rate on long-term capital gains is 15 percent.
a. Tristan
sold Stock A for a short-term capital loss of
$5,250;
sold Stock B for a long-term capital gain of $4,250.
b. Isolda
sold Stock A for a $2,000 short-term gain;
sold Stock B for a $6,000 long-term loss.
c. Elsa is 65 years old and withdraws $1,000 from her
traditional IRA account, She deposits $1,000 in her
Roth IRA.
d. Gertrude
bought 100 shares of IBM in March 2006 for $100 a
share and sold 40 shares six months later for $120.
e. Siegmund's traditional IRA is currently worth
$25,000. He sold a stock in the account for $2,000.
He had purchased the stock for $1,000 in 2012.

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