1.) A tax payer reports capital gains and losses on? a.) Form 8949 b.) Schedule D of Form 1040 c.)Schedule D of Form 1040 and Form 8949 d.) None of the above

2.)Sanjay is single and has taxable income of $13,000 without considering the sale of capital asset in November of 2015 for $15,000. The asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the capital gain is? a.) $1,500 b.) $1,000 c.)$0 d.) $500

3.) The taxable portion of a gain from qualified small business stock is taxed at a top tax rate of? a.) 15% b.) 28% c.) 18% d.) 20%

4.) Ranapurchases a 5%, $100,000 corporate bond at issuance on January 1, 2105 for $91,500. the bond matures in five years. In 2015 Rana will recognize interest income of? a.) an amount less than $5,000 (but more than $0) b.) an amount greater than $5,000 c.) $5,000 d.) $0