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22 December, 10:43

The capital gain rate for a couple filing MFJ with taxable income of $79,000 is:Choose one answer: a. 0% b. 15% c. 20% d. 28%

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Answers (1)
  1. 22 December, 12:25
    0
    Option (b) 15%

    Explanation:

    Data provided in the question:

    Couple is filing MFJ i. e Married Filing Jointly

    Taxable income = $79,000

    Now,

    According to MFJ, capital gains tax brackets are as follows

    Capital Gain Rate Income

    0% $0 to $78,750

    15% $78,751 to $488,850

    20% > $488,850

    Therefore,

    The taxable income of $79,000 lies in the bracket of 15% Capital Gain Rate

    Hence,

    Option (b) 15%
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