1 answer

In 2019, an individual taxpayer has $863,000 of taxable income that includes $48,000 of 0%/15%/20% long-term...

Question:

In 2019, an individual taxpayer has $863,000 of taxable income that includes $48,000 of 0%/15%/20% long-term capital gain. Wh
In 2019, an individual taxpayer has $863,000 of taxable income that includes $48,000 of 0%/15%/20% long-term capital gain. Which of the following statements is correct? a. All of the LTCG will be taxed at 20%. b. All of the LTCG will be taxed at 0%. C. All of the LTCG will be taxed at 15%. Od. Some of the LTCG will be taxed at 15% and some at 20%. le. None of these choices are correct.

Answers

Option d

Since the long term capital gain is taxable at different rates, it will be done so accordingly and it cannot be clubbed and taxed at a single rate of taxation.

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