Calculating Federal Income Tax Owed or Tax Savings What is the federal income tax owed by an investor in the 35 percent income tax bracket? The tax rate on long-term capital gains is 15 percenf What is the federal income tax owed by an investor in the 35 percent income tax bracket? The tax rate on long-term capital gains is 15 percent. a. Megan sold Stock A for a short-term capital gain of $5,500; sold Stock B for a short-term capital loss of $2,100. b. Harvey sold Stock A for a short-term capital loss of $2,000; sold Stock B for a short-term capital gain of $4,000. Would the answer be different if he were 65 years old? bought 100 shares of IBM in March for $100 a share C. Javier is 70 years old and withdraws $1,000 from his Roth IRA account. d. Ernesto and sold the shares in April for $110. e. Rose contributed $4,000 to an IRA and used the proceeds to purchase stock A for $4,000. The stock was subsequently sold for $4,500 after a year had passed