25

She has a gain of $35,000 that will all be taxed at 37%. Question 25 (1 point) Assume a taxpayer is in the 37% marginal tax bracket. Which of the following will produce a gain that will be taxed at preferential capital gains rates? 1,000 shares of CTX Corporation held for 300 days Sale of an apartment building purchased in 2010 at a cost of $200,000. The taxpayer claimed $80,000 of depreciation and sold the building for $240,000 Sale of machinery for $3,000; the machinery was purchased for $10,000 and was fully depreciated. Sale of twenty single family houses by a homebuilder and developer Question 26 (1 point) Lem Lumberjack sells 100 shares (basis of $5,000) of Redwood Corporation common stock on March 8, 2020, for $4,000. On March 29, 2020, Lem purchases 1,000 shares of Redwood Corporation common stock for $4,200. Lem's recognized loss on the sale is