If Olivia Garcia is single and in the 33% tax bracket, calculate the tax associated with...
If Olivia Garcia is single and in the 33% tax bracket, calculate the tax associated with each of the following transactions. (Use the IRS regulations for capital gains in effect in 2014.)
She sold stock for $3,000 that she purchased for $2,500 6 months earlier. Round the answer to the nearest cent. Tax savings should be preceded by a "-" sign.
Homework Answers
| Sales Price | $3,000 |
| Less:Purchase Price | $2,500 |
| Capital Gain | $500 |
Tax Due=$500*33%=$500*0.33=$165
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If Olivia Garcia is single and in the 33% tax bracket, calculate
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