Tax Rates for Net Capital Gains and Qualified Dividends Rate* 0% Married Filing Jointly $0 - $78,750 $78,751 - $488,850 $488,851+ Married Filing Separately $0 - $39,375 $39,376 - $244,425 $244,426+ Taxable Income Single $0 - $39,375 $39,376 - $434,550 $434,551+ Head of Household $0 - $52,750 $52,751 - $461,700 $461,701+ Trusts and Estates $0 - $2,650 $2,651 - $12,950 $12,951+ 15% 20% *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). 2019 Tax Rate Schedules Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 0 $ 9,700 $ 9,700 $ 39,475 $ 39,475 $ 84,200 $ 84,200 $160,725 $160,725 $204,100 $204,100 $510,300 $510,300 10% of taxable income $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over $204,100 $153,798.50 plus 37% of the excess over $510,300 Schedule Y-1.Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,400 10% of taxable income $ 19,400 $ 78,950 $1.940 plus 12% of the excess over $19,400 $ 78,950 $168,400 $9,086 plus 22% of the excess over $78,950 $168,400 $321,450 $28,765 plus 24% of the excess over $168.400 $321,450 $408,200 $65,497 plus 32% of the excess over $321,450 $408,200 $612.350 $93,257 plus 35% of the excess over $408.200 $612,350 $164,709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 13,850 10% of taxable income $ 13,850 $ 52,850 $1,385 plus 12% of the excess over $13,850 $ 52,850 $ 84,200 $6,065 plus 22% of the excess over $52,850 $ 84,200 $160,700 $12,962 plus 24% of the excess over $84,200 $160,700 $204,100 $31,322 plus 32% of the excess over $160,700 $204,100 $510,300 $45,210 plus 35% of the excess over $204,100 $510,300 $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22 of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $306,175 $46,628.50 plus 35% of the excess over $204,100 $306,175 $82,354.75 plus 37% of the excess over $306,175 Christopher sold 260 shares of Cisco stock for $15,860 in the current year. He purchased the shares several years ago for $9,880. Assuming his ordinary income tax rate is 24 percent, and he has no other capital gains or losses, how much tax will he pay on this gain? (Use the dividends and capital gains tax rates and tax rate schedules. Tax to be paid