Answer -
Particulars | Explanation | Amount ($) | |
I. | The amount of her tax on qualifying dividends |
(Dividends received from Amur Corporation + Dividends received from Grape, Inc.) * 15% = ($60000 + $22000) * 15% |
12300 |
II. | The amount of her tax on nonqualifying dividends |
(Dividends received from Blaze, Inc.) * 32% = $40000 * 32% |
12800 |
III. | The total tax on all her dividend income | I + II | 25100 |
Problem 4-44 (LO. 3,5) In 2019, Alva received dividends on her stocks as follows: $60,000 Amur...
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Alva received dividends on her stocks as follows. Amur Corporation (a French corporation whose stock is traded on an established u.S. securities market) $60,000 Blaze, Inc., a Delaware corporation 40,000 Grape, Inc., a Virginia corporation 22,000 a. Alva purchased the Grape stock three years ago, and she purchased the Amur stock two years ago. She purchased the Blaze stock 18 days before it went exdividend and sold it 20 days later at a $5,000 loss. Alva reported no other capital...
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