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What is ted net capital gain or loss

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Reference no: EM131775590

Question - 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 18,000

Long-term capital loss (4,000)

Short Term capital gain 6,000

Short-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?

Reference no: EM131775590

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