What are the tax rates of each grouping


Paul has the following long-term capital gains and losses for 2013: $62,000 capital gain on collectibles, $21,000 capital loss on collectibles, $18,000 capital gain on §1231 assets, and $64,000 of long-term capital gain on other capital assets. He also has a $53,000 short-term capital loss and a $5,000 short-term capital gain.

If he has a net long-term capital gain, what is its makeup in terms of the groupings? What are the tax rates of each grouping?

 

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Accounting Basics: What are the tax rates of each grouping
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