Wally (who is in the 25 percent tax bracket) has a $5,000 short-term capital loss on some bonds,a $6,000 long-term capital loss on collectibles,a $15,000 Section 1202 gain,and a net $4,000 long-term capital gain from an investment.What is amount and type of gain(s) and tax rate(s) applied?
A) $8,000 gain at 28%
B) $8,000 long-term capital gain at 15%
C) $4,000 gain at 28%;$4,000 long-term capital gain at 15%
D) $4,000 gain at 25%;$4,000 long-term capital gain at 15%
E) None of the above
Correct Answer:
Verified
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