MsBeal Recognized a $42,400 Net Long-Term Capital Gain and a $33,000

question 62

Multiple Choice

Ms.Beal recognized a $42,400 net long-term capital gain and a $33,000 net short-term capital loss this year.What is her current net income tax cost from her capital transactions if her marginal rate on ordinary income is 39.6%?

• A)$8,480
• B)$1,410
• C)$1,880
• D)$6,360

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Definitions:

Genetic Factors

The aspects of an individual's genes or heredity that influence their characteristics, including physical traits, behaviors, and susceptibilities to certain conditions.

Primacy

The tendency to remember and give more importance to the first information we encounter about something, over data that comes later.

Parental Effect

The influence that parents have on the development, behavior, and personality of their children.

Formative Period

A critical phase in development or history where foundational growth, organization, or change takes place.