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 all

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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 all of the following assets during the year:

HoldingApplicable
AssetSale PriceTax BasisPeriodRateExplanation
FGH Stock4500022500

More than one year

ERT Stock120008500

Less than one year

Baseball card collection

95005500

More than one year

HHH Stock1100015500

Less than one year

Rental residence*

10000055000

More than one 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 each of Henry's capital gains or losses?

***Assume it is year 2020 and Henry resides in the U.S***

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