1) Filing income tax returns helps __________.

A) decrease standard deductions from an individual's paycheck

B) get tax credits and lower an individual's tax obligation

C) avoid tax credits and increase an individual's tax obligation

D) increase the federal income tax withholdings

2) Nel sells her car for $11,000 and her gold jewelry for $15,000. She spent a total of $24,000 to buy her car and the jewelry 3 years ago.

Calculate the percentage of gain or loss Nel obtains by selling her capital assets.

A) Nel loses 8.33% from her investment.

B) Nel gains 8.33% from her investment.

C) Nel loses 7.8% from her investment.

D) Nel gains 7.8% from her investment.