Question: Dallas, whose tax rate is 35%, has recognized a STCL of $11,000 and a LTCG of $10,200 due to the sale of stock. In late

Dallas, whose tax rate is 35%, has recognized a STCL of $11,000 and a LTCG of $10,200 due to the sale of stock. In late December, he is considering the sale of an antique chair held for investment that would result in a LTCG of $5,000. If he sells the chair this year, what is the increase in his tax liability as a result of the sale? Ignore the phase out rules.

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