A. Capital Gains Tax. David is in the 25% tax bracket. Recently, he sold stock that he had held longer than a year for a gain of $4,000. How much tax will David pay on this gain?

B. Donna and Brian are married and file a joint return. Married filing jointly standard deduction is $10,300.00. They own their home. They have the following itemized deductions: Should Donna and Brian itemize their deductions or use the standard deduction?

Medical Bills (exceed 10% threshold) $250

Real Estate Tax $4,250

Interest expenses $2,250

State income taxes$2,500

Miscellaneous deductions$575

C. Sara's adjusted gross income is $30,000. She has $2,200 in unreimbursed medical expenses. How much in medical expenses can Sarah claim as an itemized deduction?

D. Michael has a marginal tax rate of 15%. He suddenly realizes that he neglected to include a $3,000 tax deduction. How will this oversight affect his taxes (specify dollar amount)?

E. From D, if Micheal had forgotten a $3,000 tax credit (instead of a $3,000 tax deduction), how would his taxes be affected (specify dollar amount)?

Can you please show the work so that I could understand? Thank you...