During 2014, Jackson had the following capital gains and losses:
$\begin{array}{llr}
\text { Gain from the sale of coin collection (held three years) } &\$12,000\
\text { Gain from the sale of land held as an investment for six years } &9,000\
\text {Gain from the sale of stock held as an investment (held for 10 months) } &3,000
\end{array}$

a. How much is Jackson's tax liability if he is in the 15% tax bracket?
b. If his tax bracket is 33% (not 15%)?

Question

During 2014, Jackson had the following capital gains and losses:
 $\begin{array}{llr}
  \text { Gain from the sale of coin collection (held three years) } &\$12,000\
 \text { Gain from the sale of land held as an investment for six years } &9,000\
 \text {Gain from the sale of stock held as an investment (held for 10 months)  } &3,000
\end{array}$
 
a. How much is Jackson's tax liability if he is in the 15% tax bracket?
b. If his tax bracket is 33% (not 15%)?

Quizplus · Accepted Answer

The Answer of During 2014, Jackson had the following capital gains and losses:
 $\begin{array}{llr}
  \text { Gain from the sale of coin collection (held three years) } &\$12,000\
 \text { Gain from the sale of land held as an investment for six years } &9,000\
 \text {Gain from the sale of stock held as an investment (held for 10 months)  } &3,000
\end{array}$
 
a. How much is Jackson's tax liability if he is in the 15% tax bracket?
b. If his tax bracket is 33% (not 15%)?

During 2014, Jackson Had the Following Capital Gains and Losses