Kirby, a Single Taxpayer, Has Taxable Income of $30,000 and Is

Multiple Choice

Kirby, a single taxpayer, has taxable income of $30,000 and is in the 12% tax bracket.During 2019, she had the following capital asset transactions: $\begin{array}{llcc} \text {Long-term gain from the sale of a coin collection } &\$11,000\\ \text { Long-term gain from the sale of a land investment } &10,000\\ \text { Short-term gain from the sale of a stock investment} &2,000\\\end{array}$
Kirby's tax consequences from these gains are as follows:

A) (5% × $10,000) + (12% × $13,000) .
B) (12% × $13,000) + (28% × $11,000) .
C) (0% × $10,000) + (12% × $13,000) .
D) (12% × $23,000) .
E) None of these.