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Henry, a single taxpayer with a marginal tax rate of 35 percent (taxable income is $300,000 before considering any of the items below), sold the

Henry, a single taxpayer with a marginal tax rate of 35 percent (taxable income is $300,000 before considering any of the items below), sold the following assets during the year: *$25,000 of the gain is a 25 percent gain. The remaining gain is 0/15/20 percent gain. What tax rate(s) will apply to Henry's capital gains or losses?

Asset

Sale Price

Tax Basis

Gain/Loss

Holding Period

ABC Stock

55,000

20,000

$

35,000

More than One Year

XYZ Stock

15,000

8,000

$

7,000

Less than One Year

Stamp Collection

15,000

5,000

$

10,000

More than One Year

RST Stock

13,000

29,000

$

(16,000)

Less than One Year

Rental Home

100,000

50,000

*

$

50,000

More than One Year

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