Henry, a single taxpayer with a marginal tax rate of 35 percent(taxable income is $319,000 before considering any of the items below), sold the following assets during the year: Asset

Henry, a single taxpayer with a marginal tax rate of 35 percent(taxable income is $319,000 before considering any of the items below), sold the following assets during the year: Asset Sale Price Tax Basis Gain/Loss Holding Period ABC Stock $ 53,800 $ 26,900 $ 26,900 More than One Year XYZ Stock $ 15,800 $ 11,850 $ 3,950 Less than One Year Stamp Collection $ 13,800 $ 6,900 $ 6,900 More than One Year RST Stock $ 16,800 $ 22,800 $ (6,000) Less than One Year Rental Home $ 103,800 $ 51,900* $ 51,900 More than One Year *$25,950 of the gain is a 25 percent gain. The remaining gain is 0/15/20 percent gain. tax rate(s) will apply to Henry’s capital gains or losses?

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