Which of the following tax rates applies to an individual taxpayer in the 33% marginal tax rate bracket?
Type of gain/loss Tax Rate
A)Collectibles loss 28%
B)Short-term gain 28%
C)Long-term gain 15%
D)Long-term loss 15%
E)Collectibles gain 33%

Question

Quizplus · Accepted Answer

The 33% marginal tax rate bracket applies to taxable income between $209,425 and $523,600 for single filers in 2021. For long-term gains, the tax rate varies depending on the taxpayer's income level. For someone in the 33% bracket, the tax rate for long-term gains is 15%, making option C the correct choice.

Which of the Following Tax Rates Applies to an Individual