Multiple Choice
Tom sold mutual fund shares,which he had owned for 3 years,so that he could use the proceeds to return to college.Tom is in the 15% marginal tax bracket,and his capital gain from the sale was $11,000.How much tax does Tom owe on the gain?
A) $11,000
B) $3,080
C) $1,650
D) $1,100
E) $0
Correct Answer:
Verified
Correct Answer:
Verified
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