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Abby Has a $10,000 Loss on Some Collectibles,a $5,000 Sec

Question 20

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Abby has a $10,000 loss on some collectibles,a $5,000 Sec.1202 gain,and an $11,000 gain on some securities.If all gains and losses are long-term and Abby is in the 25 percent tax bracket,how is her net gain taxed?


A) $5,000 at 25%; $1,000 at 15%
B) $6,000 at 15%
C) $5,000 at 28%; $1,000 at 15%
D) $6,000 at 28%

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