Kirby is in the 15% tax bracket and had the following capital asset transactions during 2016:
Long-term gain from the sale of a coin collection
$11,000
Long-term gain from the sale of a land investment
10,000
Short-term gain from the sale of a stock investment
2,000
Kirby's tax consequences from these gains are as follows:
A)(5% × $10,000)+ (15% × $13,000).
B)(15% × $13,000)+ (28% × $11,000).
C)(0% × $10,000)+ (15% × $13,000).
D)(15% × $23,000).
E)None of these.

Question

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The Answer of Kirby is in the 15% tax bracket and had the following capital asset transactions during 2016:
Long-term gain from the sale of a coin collection
$11,000
Long-term gain from the sale of a land investment
10,000
Short-term gain from the sale of a stock investment
2,000
Kirby's tax consequences from these gains are as follows:
A)(5% × $10,000)+ (15% × $13,000).
B)(15% × $13,000)+ (28% × $11,000).
C)(0% × $10,000)+ (15% × $13,000).
D)(15% × $23,000).
E)None of these.

Kirby Is in the 15% Tax Bracket and Had the Following