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Determine the tax Taxpayer will pay on the sale of artwork

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Question - Taxpayer's filing status is Head of Household and he claims the standard deduction. In 2019, Taxpayer earned salary of $167,850 and realized a gain of $20,000 on the sale of artwork held more than one year. Determine the tax Taxpayer will pay on the sale of the artwork.

A) $5,600

B) $3,000

C) $5,504

D) $5,152

Reference no: EM132571597

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