Perry is in the 33% tax bracket.During 2010,he had the following capital asset transactions: Perry's tax consequences from these gains are as follows:
A)(15% * $10,000)+ (28% * $30,000)+ (33% * $4,000).
B)(15% * $30,000)+ (33% * $4,000).
C)(0% * $10,000)+ (28% * $30,000)+ (33% * $4,000).
D)(15% * $40,000)+ (33% * $4,000).
E)None of the above.

Question

Perry is in the 33% tax bracket.During 2010,he had the following capital asset transactions:  Perry's tax consequences from these gains are as follows:
A)(15% * $10,000)+ (28% * $30,000)+ (33% * $4,000). 
B)(15% * $30,000)+ (33% * $4,000). 
C)(0% * $10,000)+ (28% * $30,000)+ (33% * $4,000). 
D)(15% * $40,000)+ (33% * $4,000). 
E)None of the above.

Quizplus · Accepted Answer

The Answer of Perry is in the 33% tax bracket.During 2010,he had the following capital asset transactions:  Perry's tax consequences from these gains are as follows:
A)(15% * $10,000)+ (28% * $30,000)+ (33% * $4,000). 
B)(15% * $30,000)+ (33% * $4,000). 
C)(0% * $10,000)+ (28% * $30,000)+ (33% * $4,000). 
D)(15% * $40,000)+ (33% * $4,000). 
E)None of the above.

Perry Is in the 33% Tax Bracket