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5 ) Molly is a local baker in Denver. Molly is in the 2 4 % tax bracket. In 2 0 2 0 , she

5) Molly is a local baker in Denver. Molly is in the 24% tax bracket. In 2020, she has the following capital gains and losses:
Short-term Capital Gains: $12,000
Short-term Capital Loss: ($3,500)
Long-term Capital Gain: $2,000
Long-term Capital Loss: ($3,000)
a) What is Mollys Net Short-term Capital Gain?
b) What is Mollys Net Long-term Capital Gain?
c) Does Molly actually have a Net Capital Gain amount here? What will be the presumptive tax rate for the excess gain be?

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