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Ted Thomas, single taxpayer with no dependents, has the following transactions in 2010:
AGA (Before capital gains and losses) $500,000
Long -term capital gain 18,000Long-term capital loss (4,000)Short Term capital gain 6,000Short-term capital loss (8,000)
a. What is Ted's net capital gain or loss?
b. If your answer to (a) was a net gain, what is the maximum rate it would be taxed?
c. If his AGI were $25,000, what is the maximum rate which it would be taxed?
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