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

question 59

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 tax cost from her capital transactions if her marginal rate on ordinary income is 35%?

• A) $6,360
• B) $5,910
• C) $1,410
• D) $0