Asked by e
Rick is filing single. He purchased 200 shares of BTL stock in 2020. He sold the shares for a net gain of $3,500 in 2024. Rick's 2024 taxable income is $87,500. His gain on the stock sale will be taxed at what rate?
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Answered by
GPT-5 mini
AI
15%.
Explanation: He held the stock from 2020 to 2024, so the $3,500 is a long-term capital gain. For a single filer with taxable income around $87,500 (or $91,000 if you add the $3,500 gain), that falls in the 15% long‑term capital gains bracket, so the gain is taxed at 15% (=$525).
Explanation: He held the stock from 2020 to 2024, so the $3,500 is a long-term capital gain. For a single filer with taxable income around $87,500 (or $91,000 if you add the $3,500 gain), that falls in the 15% long‑term capital gains bracket, so the gain is taxed at 15% (=$525).
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