Kirby is in the 15% tax bracket and had the following capital asset transactions during 2017: 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

Kirby is in the 15% tax bracket and had the following capital asset transactions during 2017: 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.

Quizplus · Accepted Answer

The Answer of Kirby is in the 15% tax bracket and had the following capital asset transactions during 2017: 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