Kirby is in the 15% tax bracket and had the following capital asset transactions during 2012: Kirby's tax consequences from these gains are as follows:
A)(5% ´ $10,000) + (15% ´ $13,000).
B)(15% ´ $13,000) + (28% ´ $11,000).
C)(0% ´ $10,000) + (15% ´ $13,000).
D)(15% ´ $23,000).
E)None of the above.

Question

Kirby is in the 15% tax bracket and had the following capital asset transactions during 2012:  Kirby's tax consequences from these gains are as follows:
A)(5% ´ $10,000) + (15% ´ $13,000). 
B)(15% ´ $13,000) + (28% ´ $11,000). 
C)(0% ´ $10,000) + (15% ´ $13,000). 
D)(15% ´ $23,000). 
E)None of the above.

Quizplus · Accepted Answer

The Answer of Kirby is in the 15% tax bracket and had the following capital asset transactions during 2012:  Kirby's tax consequences from these gains are as follows:
A)(5% ´ $10,000) + (15% ´ $13,000). 
B)(15% ´ $13,000) + (28% ´ $11,000). 
C)(0% ´ $10,000) + (15% ´ $13,000). 
D)(15% ´ $23,000). 
E)None of the above.

Kirby Is in the 15% Tax Bracket and Had the Following