Kendrick, Whose Tax Rate Is 32%, Had the Following Results

question 2118

Multiple Choice

Kendrick, whose tax rate is 32%, had the following results from transactions during the year: After offsetting the STCL, what is (are) the resulting gain(s) ?

• A) $16,000 collectibles gain, $8,000 LTCG
• B) $20,000 collectibles gain, $8,000 LTCG
• C) $20,000 collectibles gain, $4,000 LTCG
• D) $24,000 LTCG

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