An unmarried taxpayer engages in the following transactions:

Year 1, June: purchases 200 shares of stock for $80 per share

Year 1, September: sells 100 shares at 540 per share

Year 2, March: sells 100 shares at $75 per share No dividends were received.

What amount may this taxpayer deduct for adjusted gross income when preparing year 1 taxes?

O $4,500

O $500

$4,000

O 53,000

An individual with a taxable income of $50.000 sells 300 shares of stock at a market price of $100 per share. At the individual's present level of income, there is a marginal ordinary income tax rate of 25% and a long-term capital gains rate of 15%. 200 shares of the stock were acquired 13 months earlier at a price of $80 per share, and 100 shares were acquired two years earlier at a price of $60 per share What is this individual's tax liability after this transaction?

O $2,000

O $1,800

0 $8,000

0 51,200

Basic stnadrd deduction amounts*				Amount of each addional standard deduction
Filing status year	2020	2021		filing status Year	2020	2021
Single	12400	12550		Single	1650	1700
married, filinf jointly	24800	25100		married, filinf jointly	1300	1350
Qualifying widow or widower	24800	25100		Qualifying widow or widower	1300	1350
head of household	18650	18800		head of household	1650	1700
Married, Filing Separtely	12400	12550		Married, Filing Separtely	1300	1350

2021 tax rate Schedules single (2021)					Head of house hold b- schedule Z (2021)
If taxable is:					If taxable is:
Over	But not over	tax is			Over	but not over
0	9950	10% of taxable income			0	14200	10% of taxable income
9950	40525	995.00 plus 12% of excess over 9950			14200	54200	1420 plus 12% of excess over14200
40525	86375	4664.00 plus 22% of excess over 40525			54200	86350	6220 plus 22% of excess over 54200
86375	164925	14751.00 plus 24% of the excess over 86375			86350	164900	13293 plus 24% of excess over86350
164925	209425	33603.00 plus 32% of the excess over 164925			164900	209400	32145 plus 32% of excess over 164900
209425	523600	47843 plus 35% of the excess over 209425			209400	523600	46385 plus 35% of excess 209425
523600		157804.25 plus 37% of the excess over 523600			523600		156355 plus 37% of excess over 523600