Darla sold an antique clock in 2014 for $3,000.She had purchased the clock in 2009 for $2,000.If she is otherwise in the 35% marginal tax bracket,what is the maximum tax rate on the capital gain on the sale of the clock?

Question

Quizplus · Accepted Answer

The capital gain on the sale of the antique clock is $1,000 ($3,000 - $2,000). Since Darla is in the 35% marginal tax bracket, her maximum tax rate on the capital gain is 28%. Therefore, the correct answer is C (28%).

Darla Sold an Antique Clock in 2014 for $3,000