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please help Select the correct answer. Mary has taxable income of $40,000, with short-term capital gains of $2,500. What will be her capital gains tax
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Select the correct answer. Mary has taxable income of $40,000, with short-term capital gains of $2,500. What will be her capital gains tax rate and tax owed? Single Taxpayers: Income Brackets Tax Rate Income Bracket 10% Single Taxpayers: Qualified Dividends and Long-Term Capital Gains Tax Rate Income Bracket 12% 22% O to 9,525 9,526 to 38,700 38,701 to 82,500 82,501 to 157,500 157,501 to 200,000 24% 0% O to 38,600 15% 32% 38,601 to 425,800 20% > 425,800 35% 200,001 to 500,000 > 500,000 37% . 0% tax rate with no taxes owed OB. 15% tax rate with $375 in taxes owed OC. 22% tax rate with $550 in taxes owed OD. 24% tax rate with $600 in taxes owedStep by Step Solution
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