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EXHIBIT 3.2 Capital Gains Tax as of 2018 Short-term gains from the sale or exchange of property Investment assets not used in a business) and

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EXHIBIT 3.2 Capital Gains Tax as of 2018 Short-term gains from the sale or exchange of property Investment assets not used in a business) and held for less than 12 months are taxed at the same rates as ordinary income (10%, 12%, 22%, 24%, 32%, 35%, and 37%). Long-term gains from the sale or exchange of property held for more than 12 months are taxed as follows: Ordinary Tax Rate Alternative Capital Gains Tax Rate 10% or 12% 0% 22%, 24%, 32%, or 35% 15% 37% 20% Treat each of the following cases as independent of the others. a. She sold stock for $3,750 that she purchased for $3,000 11 months earlier. Round the answer to the nearest cent. Tax savings should be preceded by a "-"sign. b. She sold bonds for $5,300 that she purchased for $4,000 4 years earlier. Round the answer to the nearest dollar. Tax savings should be preceded by a "sign. c. She sold stock for $2,275 that she purchased for $3,500 8 months earlier. Assume this to be the only Stock in Arabella's portfolio. Round the answer to the nearest cent. Tax savings should be preceded by a "-"sign. $ X If Julia Diaz is single and in the 32% tax bracket, calculate the tax impact of each of the following security transactions. (Use the IRS regulations for capital gains in effect in 2018.) EXHIBIT 3.2 Capital Gains Tax as of 2018 Short-term gains from the sale or exchange of property (investment assets not used in a business) and held for less than 12 months are taxed at the same rates as ordinary Income (10%, 12%, 22%, 24%, 32%, 35%, and 37%). Long-term gains from the sale or exchange of property held for more than 12 months are taxed as follows: Ordinary Tax Rate Alternative Capital Gains Tax Rate 10% or 12% 0% 22%, 24%, 32%, or 35% 15% 37% 20% Treat each of the following cases as independent of the others. a. She sold stock for $3,750 that she purchased for $3,000 11 months earlier. Round the answer to the nearest cent. Tax savings should be preceded by a "." sign. $ b. She sold bonds for $5,300 that she purchased for $4,000 4 years earlier. Round the answer to the nearest dollar. Tax savings should be preceded by a "-" sign. $ c. She sold stock for $2,275 that she purchased for $3,500 8 months earlier. Assume this to be the only Stock in Arabella's portfolio. Round the answer to the nearest cent. Tax savings should be preceded by a "." sign. $

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