Miranda and Carl are married. They are in the 32% marginal tax bracket. This year they sold common stock shares, which they held for more than 1 year for a capital gain of $3,800. They also sold some tech stock for a short-term capital loss of $8,000. In addition, they sold the home they had lived in for the past 9 years and experienced a $75,000 gain on the house. 

Q 1. How much will their net capital gains (or losses) be for the year? 

Q 2. How much will they pay (or save) in taxes as a result of these transactions?

Answer rating: 100% (QA)

To calculate the net capital gains or losses for Miranda and Carl we need to consider both shortterm ... View the full answer