Question
Molly and Jason were married. Their only dependent was Spot, their black standard poodle. Jason died in 2009. Assuming she does not remarry, in 2010
Molly and Jason were married. Their only "dependent" was Spot, their black standard poodle. Jason died in 2009. Assuming she does not remarry, in 2010 the only legal filing status for Molly will be
| single |
| married filing separately |
| head of household |
| qualifying widow |
| any of these |
A capital gain is the result of
| selling an asset for less than purchase price. |
| holding an asset that has appreciated. |
| selling an asset at the same price of purchase. |
| selling an asset for more than purchase price. |
| None of these. |
For 2010, each personal exemption reduced taxable income by
| $2,800 |
| $3,000 |
| $3,650 |
| $3,750 |
| $4,000 |
The tax rate on capital gains for most people is
| the same as on regular income. |
| dependent on the time the asset was owned. |
| dependent on the amount of profit earned. |
| higher than the rate on regular income. |
| None of these. |
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