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Capital asset transactions for income tax for Joan

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Joan is in the 15% tax bracket and had the following capital asset transactions during 2007:

Long-term gain from the sale of a coin collection $11,000
Long-term gain from the sale of a land investment 10,000
Short-term gain from the sale of a stock investment 2,000

Joan's tax consequences from these gains are as follows:
a) (5% ´ $10,000) + (15% ´ $13,000).
b) (5% ´ $10,000) + (28% ´ $11,000) + (15% ´ $2,000).
C)(15% ´ $13,000) + (28% ´ $11,000).
d)(15% ´ $23,000).
e)None of the above.

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Solution Summary

Calculations find the tax consequence from a person in the 15% bracket's gains.

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