Question 1.

Charles and Camille are married and file a joint return. They have modified adjusted gross income of $245,000, which includes $25,000 of capital gain. They have no other net investment income. Charles and Camille will calculate their net investment income tax on __________.

A $0

B $25,000

c $70,000

D $245,000

Question 2

Which of the following persons would most likely be considered a trader?

	Nigel trades during the summer when he is home from college. He consults with other traders and sells the stock before going back to college at the end of the summer.
	Tristan trades nearly every day. He usually sells after a few days, hoping to profit from short term changes in stock prices.
	Ivan trades every day when he gets home from work. He spends time researching the company and holds the stock for a year or more before selling.
	Andre trades two or three days a week. He likes to invest in companies that pay regular dividends, although he sometimes sells after holding the stock for a few days.