AAFM Exam CTEP Topic 6 Question 52 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 52
Topic #: 6

In US, a separate rate structure applies to capital gains and dividends. Under present law, for 2013, the maximum rate of tax on the adjusted net capital gain of an individual is 20 percent for singles earning over __________and couples earning over _______________.

A$300,000; $350,000

B$40,000 ;$50,000

C$500,000; $5,50,000

D$400,000; $4,50,000

Show Suggested Answer

Suggested Answer: D

by Kimi at Sep 15, 2024, 10:05 AM

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Miss

2 months ago

Haha, I'm just a humble taxpayer trying to make ends meet. The idea of earning over half a million dollars is about as realistic as me winning the lottery!

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Nichelle

2 months ago

Wait, does this mean I have to be a millionaire to qualify for the lower capital gains rate? That's a bit steep, don't you think?

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Clement

1 months ago

C) $500,000; $550,000

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Gerald

1 months ago

That's correct. If you earn over those amounts, you qualify for the lower capital gains rate.

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Miesha

1 months ago

A) $300,000; $350,000

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Paris

2 months ago

Ah, so the maximum rate of tax on the adjusted net capital gain for individuals is 20% for those earning over $400,000 for singles and $450,000 for couples. Seems like Option D is the correct answer here.

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