Individual taxpayer, In 2014, an individual taxpayer has

Individual taxpayer

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Reference no: EM13755495

In 2014, an individual taxpayer has $863,000 of taxable income that includes $48,000 of 0%/15%/20% long-term capital gain, which puts the taxpayer in the 39.6% tax bracket. Which of the following statements is correct?

A. All of the LTCG will be taxed at 0%.

B. All of the LTCG will be taxed at 15%.

C. All of the LTCG will be taxed at 20%.

D. Some of the LTCG will be taxed at 0% and some at 15%.

Reference no: EM13755495

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