Question: Thomas purchased 400 shares of stock A for 23
Thomas purchased 400 shares of stock A for $ 23 a share and sold them more than a year later for $ 20 per share. He purchased 500 shares of stock B for $ 40 per share and sold them for $ 53 per share after holding them for more than a year. Both of the sales were in the same year. If Thomas is in a 25% tax bracket, what will his capital gains tax be for the year?
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