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Sari Is Single and Has Taxable Income of $33,000 Without

Question 107

Multiple Choice

Sari is single and has taxable income of $33,000 without considering the sale of a capital asset in November of 2014 for $15,000.That asset was purchased six years earlier and has a tax basis of $5,000.The tax liability applicable to only the capital gain is


A) $0.
B) $1,000.
C) $1,500.
D) $915.

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