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Kate Recognized a $25,700 Net Long-Term Capital Gain and a $33,000

Question 75

Multiple Choice

Kate recognized a $25,700 net long-term capital gain and a $33,000 net short-term capital loss this year.What is her current net income tax cost or savings from her capital transactions if her marginal rate on ordinary income is 32%?


A) $0
B) $960 net tax savings
C) $2,336 net tax savings
D) $3,450 net tax cost

Correct Answer:

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