Question

32 percent and he holds the following assets for more than a year, which gains will be taxed at the lowest rate at the time of sale

Answer 1

If an individual taxpayer's marginal tax rate is 32 percent and he holds the following assets for more than a year, which gains will be taxed at the lowest rate at the time of sale-----Gains from personal-use property.

What is meant by a marginal tax rate?

The marginal tax rate is the amount of additional tax paid for every additional dollar earned as income. The average tax rate is the total tax paid divided by total income earned.

Tax rate

In a tax system, the tax rate is the ratio at which a business or person is taxed. There are several methods used to present a tax rate: statutory, average, marginal, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive

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