USA Long term capital gains tax on stocks and options

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FrankT.

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hi all,

SCENARIO 1

individual has $30K a year ordinary income. in addition, he has $20K worth of long term capital gains on stocks. does the $20K of LT capital gains have to be added to $30K to come up with his bracket for LT capital gains purposes or will he pay zero LT capital gains taxes because his ordinary income of $30K is below $38,600 ?

SCENARIO 2

individual SELLS put options which expire in more than 12 months. will the capital gain be LT or ST when the options expire?

thanks
 
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