Cason Is Filing as Single and Has 2017 Taxable Income

question 38

Multiple Choice

Cason is filing as single and has 2017 taxable income of $36,000 which includes $34,000 of 0%/15%/20% net long-term capital gain. What is his tax on taxable income using the alternative tax method? Note: Use the tax rate schedule rather than the tax table.

• A)$0
• B)$200
• C)$300
• D)$4,934
• E)None of the above

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Definitions:

Family Members

Individuals related by blood, marriage, or adoption, typically living together or closely associated.

Abuse

The maltreatment of a person, often resulting in physical, emotional, sexual, or psychological harm.

Birth-order Effects

The impact of a person's rank by age among siblings on their personality, behavior, and psychological development.

Lastborn

The youngest child in a family or the most recently born member of any sequence.