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Nathan purchased 100 shares of Oak stock for $5,000 on April 1, 2021 He sold the shares on October 28, 2021 for $ 6,000. He
Nathan purchased 100 shares of Oak stock for $5,000 on April 1, 2021 He sold the shares on October 28, 2021 for $ 6,000. He has no current year or carryover capital losses, and his only other income for the year consisted of wages. He will use the single filing status, and his 2021 taxable income is $89,500 placing him in the 24% tax bracket. What amount of tax will Nathan owe on the gain from the sale of his shares of stock?
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