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

question 12

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 15%,the income tax on his capital gains is $135.
• B)If Mr.Quinn's marginal tax rate on ordinary income is 39.6%,the income tax on his capital gains is $632.
• C)Only $1,380 of the capital gain is subject to a preferential tax rate.
• D)None of the above is false.