Harold is a head of household, has $27,000 of taxable income in 2019 from noncapital gain or loss sources, and has the following capital gains and losses: $$\begin{array} { l r }
28 \% \text { long-term capital gain } & \$ 4,300 \
28 \% \text { long-term capital loss } & ( 2,000 ) \
0 \% / 15 \% / 20 \% \text { long-term capital gain } & 19,000 \
\text { Short-term capital loss } & ( 1,700 )
\end{array}$$ What is Harold's taxable income and the tax on that taxable income (ignore the standard deduction)?

Question

Harold is a head of household, has $27,000 of taxable income in 2019 from noncapital gain or loss sources, and has the following capital gains and losses: $$\begin{array} { l r } 
28 \% \text { long-term capital gain } & \$ 4,300 \
28 \% \text { long-term capital loss } & ( 2,000 ) \
0 \% / 15 \% / 20 \% \text { long-term capital gain } & 19,000 \
\text { Short-term capital loss } & ( 1,700 )
\end{array}$$ What is Harold's taxable income and the tax on that taxable income (ignore the standard deduction)?

Quizplus · Accepted Answer

The Answer of Harold is a head of household, has $27,000 of taxable income in 2019 from noncapital gain or loss sources, and has the following capital gains and losses: $$\begin{array} { l r } 
28 \% \text { long-term capital gain } & \$ 4,300 \
28 \% \text { long-term capital loss } & ( 2,000 ) \
0 \% / 15 \% / 20 \% \text { long-term capital gain } & 19,000 \
\text { Short-term capital loss } & ( 1,700 )
\end{array}$$ What is Harold's taxable income and the tax on that taxable income (ignore the standard deduction)?

Harold Is a Head of Household, Has $27,000 of Taxable