Darla sold an antique clock in 2017 for $3,000.She had purchased the clock in 2009 for $2,000.If she is otherwise in the 33% marginal tax bracket,what is the maximum tax rate on the capital gain on the sale of the clock?

Question

Quizplus · Accepted Answer

C)Collectibles gains do not qualify as ANCG and are not eligible for the lowest capital gains rates.Collectibles are taxed at 28% for taxpayers in the 28% or higher marginal tax brackets.

Darla Sold an Antique Clock in 2017 for $3,000