Perry Is in the 33% Tax Bracket $\quad$ $ 30,000
Gain from the Sale of an Investment in Had

Short Answer

Perry is in the 33% tax bracket. During 2014, he had the following capital asset transactions:
Gain from the sale of a stamp collection (held for 10 years) $\quad$ $ 30,000
Gain from the sale of an investment in land (held for 4 years) $\quad$ 10,000
Gain from the sale of stock investment (held for 8 months) $\quad$ 4,000
4,000
Perry's tax consequences from these gains are as follows:
A) $(15 \% \times \$ 30,000)+(33 \% \times \$ 4,000)$
B) $(15 \% \times \$ 10,000)+(28 \% \times \$ 30,000)+(33 \% \times \$ 4,000)$
C) $(0 \% \times \$ 10,000)+(28 \% \times \$ 30,000)+(33 \% \times \$ 4,000)$ .
D) $(15 \% \times \$ 40,000)+(33 \% \times \$ 4,000)$ .
E)None of the ahove