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In 2015,Thomas,who Has a Marginal Tax Rate of 15%,sells Land

Question 65

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In 2015,Thomas,who has a marginal tax rate of 15%,sells land that is Sec.1231 property at a gain of $4,000.If he has no other 1231 transactions or capital asset transactions and has no nonrecaptured 1231 gain,Thomas will pay no tax on the $4,000 gain.

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