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Ted Thomas, single taxpayer with no dependents, has the following transactions in 2010: AGA (Before capital gains and losses) $500,000 Long term capital gain 18,000
Ted Thomas, single taxpayer with no dependents, has the following transactions in 2010: AGA (Before capital gains and losses) $500,000 Long term capital gain 18,000 Long-term capital loss (4,000) Short Term capital gain 6,000 Short-term capital loss (8,000) a. What is Teds net capital gain or loss? b. If your answer to (a) was a net gain, what is the maximum rate it would be taxed? c. If his AGI were $25,000, what is the maximum rate which it would be taxed
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