Samuel Jenkins made two investments; the first was 13 months ago and the second was two months ago. He just sold both investments and has a capital gain of $3,000 on each. If Samuel is single and has taxable income of $40,000, what will be the amount of capital gains tax on each investment?

Amount of tax of the $ 3,000 long-term capital gain = $ 450

Amount of tax of the $ 3,000 short-term capital gain = $ 349.50

Step-by-step explanation:

A. Investment made 13 months ago:

The Tax Rate for long-term capital gains for a single that has a taxable income of $ 40,000 is 15%; in consequence, the capital gains tax amount is:

3,000 * 0.15 = $ 450

B. Investment made 2 months ago:

The profit on an asset sold after less than a year of ownership is generally treated for tax purposes as if it were wages or salary. You're taxed on the short-term capital gain at the same rate as for your regular earnings.

Let's calculate the tax rate, using the brackets for a single that has a taxable income of $ 40,000 in 2019, this way:

in consequence,

Percentage of tax for regular earnings = 4,658.50/40,000 * 100

Percentage of tax for regular earnings = 0.1165 * 100 = 11.65%

Amount of tax of the $ 3,000 short-term capital gain = 3,000 * 0.1165

Amount of tax of the $ 3,000 short-term capital gain = $ 349.50

i dont know sorry

step-by-step explanation:

7 ft 6 in means 7 1/2, because 6 in is 1/2 of a foot. 7 ft 8 in means 7 2/3 because 8 in is 2/3 of a foot. 23/3 = 7 2/3. 15/2 = 7 1/2.

23/3   *   15/2   = 57 1/2

step-by-step explanation: