An investor is in the 33 percent tax bracket and pays long-term capital gains ta

Question

An investor is in the 33 percent tax bracket and pays long-term capital gains taxes of 15 percent. What are the taxes owed (or saved in the case of losses) in the current tax year for each of the following situations? Net short-term capital gains of $3,000; net long-term capital gains of $4,000 Net short-term capital gains of $3,000; net long-term capital losses of $4,000 Net short-term capital losses of $3,000; net long-term capital gains of $4,000 Net short-term capital gains of $3,000; net long-term capital losses of $2,000 Net short-term capital losses of $4,000; net long-term capital gains of $3,000 Net short-term capital losses of $ 1,000; net long-term capital losses of $1,500 Net short-term capital losses of $3,000; net long-term capital losses of $2,000

Explanation / Answer

SL no CG/CL SG/SL Total Particular Answer($) 1 4000 3000 7000 LTG+STG ,SO LT 4000 texed at 15% and ST 3000 taxed at 33% 1590 2 -4000 3000 -1000 LTL+STG,LT>ST So tax net 15% -150 3 4000 -3000 1000 LTG+STL,LT>ST So tax net 15% 150 4 -2000 3000 1000 LTL+STG,LT>ST So tax net 33% 330 5 3000 -4000 -1000 LTG+STL,LT>ST So tax net 33% -330 6 -1500 -1000 -2500 LTL+STL, So tax net 33% -825 7 -2000 -3000 -5000 LTL+STL, So tax net 33% limt to 3000 -990

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.