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Thomas purchased 200 shares of stock A for $11 a share and sold them more than a year later for $ 9 per share. He
Thomas purchased 200 shares of stock A for $11 a share and sold them more than a year later for $ 9 per share. He purchased 700 shares of stock B for $41 per share and sold them for $53 per share after holding them for more than a year. Both of the sales were in the same year. If Thomas is in a 25% tax bracket, what will his capital gains tax be for the year? If Thomas is in a 25% tax bracket, his capital gains tax for the year is $?
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