Jillian,whose Tax Rate Is 39

Essay

Jillian,whose tax rate is 39.6%,had the following sales of Sec.1231 property this year:
Sale of land A at a gain of $15,000
Sale of land B at a gain of $12,000
Sale of land C at a loss of $8,000
a.What is the amount of her resulting tax liability?
b.Assume instead that Jillian has a 15% marginal tax rate.What is the amount of her resulting tax liability?
c.Assume instead that Jillian has a 28% marginal tax rate.What is the amount of her resulting tax liability?