Harold is a head of household,has $27,000 of taxable income in 2016 from non-capital gain or loss sources,and has the following capital gains and losses:
28% long-term capital gain
$ 4,300
28% long-term capital loss
(2,000)
0%/15%/20% long-term capital gain
19,000
Short-term capital loss
(1,700)

Ignore standard deductions and exemptions.What is Harold's taxable income and the tax on that taxable income?

Question

Harold is a head of household,has $27,000 of taxable income in 2016 from non-capital gain or loss sources,and has the following capital gains and losses:
28% long-term capital gain
$ 4,300
28% long-term capital loss
(2,000)
0%/15%/20% long-term capital gain
19,000
Short-term capital loss
(1,700)
​
Ignore standard deductions and exemptions.What is Harold's taxable income and the tax on that taxable income?

Quizplus · Accepted Answer

The Answer of Harold is a head of household,has $27,000 of taxable income in 2016 from non-capital gain or loss sources,and has the following capital gains and losses:
28% long-term capital gain
$ 4,300
28% long-term capital loss
(2,000)
0%/15%/20% long-term capital gain
19,000
Short-term capital loss
(1,700)
​
Ignore standard deductions and exemptions.What is Harold's taxable income and the tax on that taxable income?

Harold Is a Head of Household,has $27,000 of Taxable Income