Homework Answers
False, because if C uses cash Accounting,it will have no impact on the Capital gain Tax because in either case no Tax is payable in the year when Capital Asset is acquired.
Capital gain is Sale value of Capital Asset less Cost of Asset acquired
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TRUE OR FALSE?
0. A "C" corporation pays tax on long term capital gain income at...
please answer whether the following are true or false 6. A "C"corporation pays tax on long...
please answer whether the following are true or false
6. A "C"corporation pays tax on long term capital gain income at a lower rate than the tax on ordinary income. 7. "C" corporations must use the CASH method of accounting. 8. An individual shareholder receiving a regular dividend from a "C" corporation's EARNINGS AND PROFITS must include the dividend in taxable income. 9. Capital losses of a "C" corporation can only offset capital gain income, they cannot reduce other taxable...
TRUE OR FALSE: for the year, lonnie earned interest income, qualified dividend income, and long-term capital...
TRUE OR FALSE: for the year, lonnie earned interest income, qualified dividend income, and long-term capital gains. among these items, interest income and long-term capital gains are taxed at preferential capital gains rates and dividend income is taxed at ordinary rates
Mr. Fox, a single taxpayer, recognized a $64,000 long-term capital gain, a $14,300 short-term capital gain,...
Mr. Fox, a single taxpayer, recognized a $64,000 long-term capital gain, a $14,300 short-term capital gain, and a $12,900 long-term capital loss. Compute Mr. Fox's income tax and Medicare contribution tax if his taxable income before consideration of his capital transactions is $441,000. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Tax on ordinary income Tax on income taxed at...
i need some explanation TAXPAYERS WITH LARGE LONG-TERM CAPITAL GAIN AND/OR DIVIDEND INCOME WHO FALL INTO...
i need some explanation
TAXPAYERS WITH LARGE LONG-TERM CAPITAL GAIN AND/OR DIVIDEND INCOME WHO FALL INTO THE 37% BRACKET IN 2019 A single taxpayer with $575,000 of total taxable income in 2019 has $25,000 of ordinary income but $550,000 of long-term capital gain and qualified dividend income from a vast array of investments. The taxpayer's 2019 federal income tax liability is: 1. Tax on $25,000 ordinary income at single rates.................$2,806 2. Tax on $14,375 of LTCG/dividends at 0%........................... 0 3....
Mr. Fox, a single taxpayer, recognized a $64,000 long-term capital gain, a $14,300 short-term capital gain,...
Mr. Fox, a single taxpayer, recognized a $64,000 long-term capital gain, a $14,300 short-term capital gain, and a $12,900 long-term capital loss. Compute Mr. Fox’s income tax and Medicare contribution tax if his taxable income before consideration of his capital transactions is $421,000. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
In November 2019, Ben and Betty (married filing jointly) have a long term capital gain of...
In November 2019, Ben and Betty (married filing jointly) have a long term capital gain of $54000 on the sale of stock. They have no other capital gains and losses for the year. Their ordinary income for the year after the standard deduction is $72500, making their total taxable income for the year $126,500 (72500 + 54000). In 2019, married taxpayers pay 0 percent on long term gains up to $78,750. What will be their 2019 total tax liability assuming...
true / false just need to answer True or False! Uvw, uns 1055 WILL - wwuuuuUIC....
true / false
just need to answer True or False!
Uvw, uns 1055 WILL - wwuuuuUIC. - 10. A C corporation generally can be incorporated tax-free under Sec. 351 regardless of boot paid by transferors. - 11. A change of tax accounting method from an incorrect method does not require permission of the IRS. - 12. The Code contains two major depreciation recapture provisions—$8 1231 and 1250. - 13. For corporations and individuals, net short-term capital gains are taxed at...
Stock Expected Dividend Expected Capital Gain A $0 $10 B $5 $5 C $10 $0 A....
Stock Expected Dividend Expected Capital Gain A $0 $10 B $5 $5 C $10 $0 A. If each stock is priced at $110, what are the expected net percentage returns on each stock to (i) a pension fund that does not pay taxes, (ii) a corporation paying tax at 35% (the effective tax rate on dividends received by corporations is 10.5%), and (iii) an individual with an effective tax rate of 15% on dividends and 10% on capital gains? (Do...
Jillian, a single taxpayer, has a net long-term capital gain for the year and it is...
Jillian, a single taxpayer, has a net long-term capital gain for the year and it is all made up of 25% long-term capital gain. She has positive taxable income for the year. Which of the following i not a positive tax rate that could be applied in taxing this gain as part of her taxable income? A) 0% B) 15% C) 20% D) 25% E) A. and C.
A net short term capital loss first offsets any 28% net long term capital gain before...
A net short term capital loss first offsets any 28% net long term capital gain before it offsets either 25% net long term capital or 0%/15%/20% net long term capital gain True/False
please answer whether the following are true or false
6. A "C"corporation pays tax on long term capital gain income at a lower rate than the tax on ordinary income. 7. "C" corporations must use the CASH method of accounting. 8. An individual shareholder receiving a regular dividend from a "C" corporation's EARNINGS AND PROFITS must include the dividend in taxable income. 9. Capital losses of a "C" corporation can only offset capital gain income, they cannot reduce other taxable...
Mr. Fox, a single taxpayer, recognized a $64,000 long-term capital gain, a $14,300 short-term capital gain, and a $12,900 long-term capital loss. Compute Mr. Fox's income tax and Medicare contribution tax if his taxable income before consideration of his capital transactions is $441,000. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Tax on ordinary income Tax on income taxed at...
i need some explanation
TAXPAYERS WITH LARGE LONG-TERM CAPITAL GAIN AND/OR DIVIDEND INCOME WHO FALL INTO THE 37% BRACKET IN 2019 A single taxpayer with $575,000 of total taxable income in 2019 has $25,000 of ordinary income but $550,000 of long-term capital gain and qualified dividend income from a vast array of investments. The taxpayer's 2019 federal income tax liability is: 1. Tax on $25,000 ordinary income at single rates.................$2,806 2. Tax on $14,375 of LTCG/dividends at 0%........................... 0 3....
true / false
just need to answer True or False!
Uvw, uns 1055 WILL - wwuuuuUIC. - 10. A C corporation generally can be incorporated tax-free under Sec. 351 regardless of boot paid by transferors. - 11. A change of tax accounting method from an incorrect method does not require permission of the IRS. - 12. The Code contains two major depreciation recapture provisions—$8 1231 and 1250. - 13. For corporations and individuals, net short-term capital gains are taxed at...
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