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On December 15, 2015 Ms. Evans sold an antique vase for $4,100. She paid $1,100 for the vase 5 years ago purchased as an investment.
On December 15, 2015 Ms. Evans sold an antique vase for $4,100. She paid $1,100 for the vase 5 years ago purchased as an investment. Her marginal tax rate is 39.6%. What is her taxable gain and at what maximum rate will it be taxed?
A. $3,000 long-term capital gain taxed at 15% rate
B. $3,000 long-term capital gain taxed at ordinary rates
C. $3,000 long-term capital gain taxed at 28% rate
D. $3,000 long-term capital gain taxed at 20% rate
E. None of the above
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