Katie recognized a $25,500 net long-term capital gain and a $32,000 net short -term capital...
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Accounting
Katie recognized a $25,500 net long-term capital gain and a $32,000 net short -term capital loss this year. What is her current net income tax cost or savings from her capital transactions if her marginal tax rate on ordinary income is 32%?
| a. | $0 | |
| b. | $960 net tax savings | |
| c. | $2,080 net tax savings | |
| d. | $1,600 net tax cost |
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