Question

The capital gain rate for a couple filing MFJ with taxable income of $79,000 is:Choose one answer: a. 0% b.15% c. 20% d. 28%

Answer 1

Option (b) 15%

Step-by-step explanation:

Data provided in the question:

Couple is filing MFJ i.e Married Filing Jointly

Taxable income = $79,000

Now,

According to MFJ, capital gains tax brackets are as follows

Capital Gain Rate Income

0% $0 to $78,750

15% $78,751 to $488,850

20% > $488,850

Therefore,

The taxable income of $79,000 lies in the bracket of 15% Capital Gain Rate

Hence,

Option (b) 15%