Darla Sold an Antique Clock in 2014 for $3,000

question 54

Multiple Choice

Darla sold an antique clock in 2014 for $3,000.She had purchased the clock in 2009 for $2,000.If she is otherwise in the 35% marginal tax bracket,what is the maximum tax rate on the capital gain on the sale of the clock?

• A)5%
• B)15%
• C)28%
• D)20%

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Definitions:

Capacity Building

The process of developing and strengthening the skills, abilities, processes, and resources that organizations and communities need to survive, adapt, and thrive.

Social Action Strategies

Plans and methods used to address social issues and promote change for the betterment of society.

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Activities undertaken jointly by a group of people with a common interest, often aimed at achieving a specific goal.

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Transformation within a community that affects its social, economic, environmental, or cultural conditions, often driven by collective actions or policies.