Sean, a single taxpayer, has taxable income of $23,000 befor…
Sean, a single taxpayer, has taxable income of $23,000 before the sale of a capital asset for $15,000 in the current year. The asset was purchased several years ago and is not Sec. 1250 property, a collectible, or small business stock. Sean’s adjusted basis in the asset when he sold it was $5,000. How much more tax does Sean pay because of the sale? (reference the included rate schedule, and ignore any net investment income tax)