Emily has the following capital gains during 2021: $10,000 gain on the sale of a painting purchased 5 years ago $20,000 gain on stock held as an investment for 7 years, In addition, Emily has $25,000 in capital losses from the sale of stock that was inherited in 2010. Emily is single and has other taxable income of $200,000. What is her capital gains tax for 2021?

Answer rating: 100% (QA)

Solution The correct answer is 750 Explanation Capital losses from the sale of sto... View the full answer