Perry Is in the 33% Tax Bracket

question 72

Multiple Choice

Perry is in the 33% tax bracket.During 2015,he had the following capital asset transactions: Gain from the sale of a stamp collection (held for 10 years) $30,000 Gain from the sale of an investment in land (held for 4 years) 10,000 Gain from the sale of stock investment (held for 8 months) 4,000 Perry's tax consequences from these gains are as follows:

• A)(15% × $30,000) + (33% × $4,000).
• B)(15% × $10,000) + (28% × $30,000) + (33% × $4,000).
• C)(0% × $10,000) + (28% × $30,000) + (33% × $4,000).
• D)(15% × $40,000) + (33% × $4,000).
• E)None of these.

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Definitions:

Warfarin (Coumadin)

A medication used as an anticoagulant (blood thinner) to prevent the formation of harmful blood clots.

INR

International Normalized Ratio, a blood test used to measure the time it takes for blood to clot, important for monitoring patients on anticoagulant therapy.

Lovenox

A brand name for enoxaparin, an anticoagulant medication used to prevent and treat blood clots.