491,983 views
32 votes
32 votes
Stuart is in the 25% tax bracket. Recently, he sold stock that he had held longer than a year for a gain of $20,000. How much tax will Stuart pay on this gain?

User Tellingmachine
by
3.2k points

1 Answer

22 votes
22 votes

9514 1404 393

Answer:

$5000

Explanation:

25% × $20,000 = $5,000

Stuart will pay $5000 tax on his capital gain.

_____

To find the tax, multiply the tax rate by the taxable amount.

User Ravi Wallau
by
3.1k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.