Sanjay Is Single and Has Taxable Income of $13,000 Without

Multiple Choice

Sanjay is single and has taxable income of $13,000 without considering the sale of a capital asset in November of 2017 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) $500.
C) $1,000.
D) $1,500.