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Income from capital gains & Net capital gain Shannon Wilson Bell had the following capital transactions for the year: (3,000) long-term capital loss 9,000 long-term

Income from capital gains & Net capital gain

Shannon Wilson Bell had the following capital transactions for the year:

(3,000) long-term capital loss

9,000 long-term capital gain

2,000 net short-term capital gain

In addition, Bell had $75,000 of wages.

There were no other items includable in his gross income.

Bell is Single, and has no dependents, is under 65 takes the Standard Deduction.

What is Bell's Adjusted Gross Income?

What is Bell's TAXABLE Income?

What is the amount of NET CAPITAL GAIN that will be taxed at 15%?

What is the amount of tax that Bell will pay?

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