Abby has a $10,000 loss on some collectibles, a $5,000 Sec.1202 gain, and an $11,000 gain on some securities.If all gains and losses are long-term and Abby is in the 24 percent tax bracket, how is her net gain taxed?
A) $5,000 at 25%; $1,000 at 15%
B) $6,000 at 15%
C) $5,000 at 28%; $1,000 at 15%
D) $6,000 at 28%
Correct Answer:
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