Suppose the capital gains tax is 28 percent and you purchased a house ten years ago for $80,000. If you sold the house today you would get $140,000. Your tax liability would be:A. indeterminate without knowing the inflation rate.
B. $16,800.
C. $39,200.
D. indeterminate without knowing the personal income tax rate.
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Home » Business » Suppose the capital gains tax is 28 percent and you purchased a house ten years ago for $80,000. If you sold the house today you would get $140,000. Your tax liability would be:A. indeterminate without knowing the inflation rate. B. $16,800. C.