MrQuinn Recognized a $900 Net Short-Term Capital Gain and a $1,380

question 50

Multiple Choice

Mr.Quinn recognized a $900 net short-term capital gain and a $1,380 long-term capital gain this year.Which of the following statements is false?

• A)If Mr.Quinn's marginal tax rate on ordinary income is 12%,the total income tax on his capital gains is $108.
• B)If Mr.Quinn's marginal tax rate on ordinary income is 37%,the total income tax on his capital gains is $609.
• C)Only $1,380 of the capital gain is subject to a preferential tax rate.
• D)None of the above is false.

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