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Question: harold a single taxpayer has 30000 of ordinary income after...

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Harold, a single taxpayer, has $30,000 of ordinary income after the standard deduction, and $10,000 in long-term capital gains, for total taxable income of $40,000. Assuming a tax of $3,413 on the $30,000 of ordinary income, what is Harold’s tax?

The tax rates on long-term capital gains are as follows:

Income Level Long-Term Capital Gains Rates

Single

$0–$38,600 0%

$38,601–$425,800 15%

> $425,800 20%

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