Homework Answers
| Long Term Gain: Long term gain arises in case of sale of assets held for more than a Year | |||||||
| Status: | Single | ||||||
| Holding period | Gain | Taxable Income | Long Term/Short Term | Long Term capital gain taxed rate | |||
| a) | 4 years | 3000 | 25000 | Long Term | 0% | ||
| b) | 8 months | 3000 | 52000 | Short Term | |||
| C) | 4 years | 2000 | 77000 | Long Term | 15% | ||
| d) | 4 years | 4000 | 480000 | Long Term | 20% | ||
| e) | 4 months | 4000 | 410000 | Short Term | |||
| Long Term Capital Gains Slab for Single Taxpayer(2019) | |||||||
| 0% | 0-$39375 | ||||||
| 15% | $39376-$434550 | ||||||
| 20% | $434551 | ||||||
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Capital Gains and Losses. (Obj. 2) For each of the following cases, determine would be taxed...
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5. Netting Capital Gains and Losses. (Obj. 3) In each of the following cases, use the netting! process between groups to determine the taxpayer's net capital gain and the tax rate paid on such gain. Assume the taxpayer files jointly and these are the only capital assets sold during the year. a. A $2,000 loss on the sale of a capital asset held six months; a $9,000 gain on the sale of a capital asset held for three years. Taxable...
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