Question

what is the federal income tax owed by an investor in the 35 percent income tax bracket? the tax rate on long-term capital gains is 15 percent.

a. megan

sold stock a for a short-term capital gain of $5,500;

sold stock b for a short-term capital loss of $2,100.

b. margaret

sold stock a for a short-term capital loss of $2,000;

sold stock b for a short-term capital gain of $4,000.

c. melissa is 70 years old and withdraws $1,000 from her

roth ira account. would the answer be different if

she were 65 years old?

d. morgan

bought 100 shares of ibm in march for $100 a share and

sold the shares in april for $110.

e. murphy

contributed $4,000 to an ira and used the proceeds to

purchase stock a for $4,000. the stock was subsequently

sold for $4,500 after a year had passed.

Answer

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