Homework Answers
Option d
Since the long term capital gain is taxable at different rates, it will be done so accordingly and it cannot be clubbed and taxed at a single rate of taxation.
Add Answer to:
In 2019, an individual taxpayer has $863,000 of taxable income that includes $48,000 of 0%/15%/20% long-term...
income that includes $48,000 of WWI5W/20% long-term S 24. In 2019. an individual taxaver has 5863 000 of taxable in...
income that includes $48,000 of WWI5W/20% long-term S 24. In 2019. an individual taxaver has 5863 000 of taxable income that includes $48.000 of O capital gain. Which of the following statements is correct? a. All of the LTCG will be taxed at 0% b. All of the LTCG will be taxed at 15%. c. All of the LTCG will be taxed at 20% d. Some of the LTCG will be taxed at 15% and some at 20% c. None...
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....
Henrich is a single taxpayer. In 2019, his taxable income is 461000. What is his income...
Henrich is a single taxpayer. In 2019, his taxable income is 461000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. c. His 461000 of taxable income includes 61000 of long-term capital gain that is taxed at preferential rates Income tax------- Net investment income tax ------- Total tax liability --------- Please explain how you get the...
23. In 2019, Satesh has 55.000 short-term capital , 513.000 NVISN20% long-term capital gain, and $7,000...
23. In 2019, Satesh has 55.000 short-term capital , 513.000 NVISN20% long-term capital gain, and $7,000 qualified dividend income Satesh is single and has other table income of S15.000. Which of the following statements is correct? No more than 13.000 of Sath e income istened b. No more than 57.000 of Seti able income isted 0% c. No more than $15.000 of Salesistable income is taxed at 0% d. None of Satesh's taxable income is taxed 0% e. All of...
In 2020 Fong and Wong are married and file jointly. They have fasable income of $85.000...
In 2020 Fong and Wong are married and file jointly. They have fasable income of $85.000 which includes a long-term capital gain of $10,000 Which of the following is true Select one: O a. Some of the LTCG will be taxed at a rate of 0% and some of the LTCG will be taxed at a rate of 15% O b. All of the LTCG will be taxed at a rate of 15% O c. Some of the LTCG will...
25. Cason is filing as single and has 2019 taxable income of $36,000 which includes $34,000...
25. Cason is filing as single and has 2019 taxable income of $36,000 which includes $34,000 0%/ 15 % / 20% net long-term MID capital gain. What is his tax on taxable income using the alternative tax method? Note: Use the tax rate schedule rather than the tax table. FA a. 50 b. $200 c. 5300 d. $4924 e. None of these.
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019,...
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019, his taxable income is $453,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank Enter zero if applicable.) A. His $453,000 of taxable income...
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.
10. Kirby, a single taxpayer, has taxable income of $30,000 and payer, has taxable income of $30,000 and is in the...
10. Kirby, a single taxpayer, has taxable income of $30,000 and payer, has taxable income of $30,000 and is in the 12% tax bracket. During 2019, she had the following capital asset transactions: $11,000 10,000 Long-term gain from the sale of a coin collection Long-term gain from the sale of a land investment Short-term gain from the sale of a stock investment Kirby's tax consequences from these gains are as follows: a. (5% * $10,000) + (12% * $13,000). b....
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...
income that includes $48,000 of WWI5W/20% long-term S 24. In 2019. an individual taxaver has 5863 000 of taxable income that includes $48.000 of O capital gain. Which of the following statements is correct? a. All of the LTCG will be taxed at 0% b. All of the LTCG will be taxed at 15%. c. All of the LTCG will be taxed at 20% d. Some of the LTCG will be taxed at 15% and some at 20% c. None...
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....
23. In 2019, Satesh has 55.000 short-term capital , 513.000 NVISN20% long-term capital gain, and $7,000 qualified dividend income Satesh is single and has other table income of S15.000. Which of the following statements is correct? No more than 13.000 of Sath e income istened b. No more than 57.000 of Seti able income isted 0% c. No more than $15.000 of Salesistable income is taxed at 0% d. None of Satesh's taxable income is taxed 0% e. All of...
In 2020 Fong and Wong are married and file jointly. They have fasable income of $85.000 which includes a long-term capital gain of $10,000 Which of the following is true Select one: O a. Some of the LTCG will be taxed at a rate of 0% and some of the LTCG will be taxed at a rate of 15% O b. All of the LTCG will be taxed at a rate of 15% O c. Some of the LTCG will...
25. Cason is filing as single and has 2019 taxable income of $36,000 which includes $34,000 0%/ 15 % / 20% net long-term MID capital gain. What is his tax on taxable income using the alternative tax method? Note: Use the tax rate schedule rather than the tax table. FA a. 50 b. $200 c. 5300 d. $4924 e. None of these.
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019, his taxable income is $453,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank Enter zero if applicable.) A. His $453,000 of taxable income...
10. Kirby, a single taxpayer, has taxable income of $30,000 and payer, has taxable income of $30,000 and is in the 12% tax bracket. During 2019, she had the following capital asset transactions: $11,000 10,000 Long-term gain from the sale of a coin collection Long-term gain from the sale of a land investment Short-term gain from the sale of a stock investment Kirby's tax consequences from these gains are as follows: a. (5% * $10,000) + (12% * $13,000). b....
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...
Most questions answered within 3 hours.
-
How are the activators and repressors different in eukaryotes vs
prokaryotes for regulation of gene expression?
asked 12 minutes ago -
Task 2.6 : In this exercise, you will create a script to
echo users, based on...
asked 11 minutes ago -
The diameter of the Sun is 1.4x 106 kilometers. (1 km
= 3280 ft) What is...
asked 15 minutes ago -
Calculate the value of the translational partition function of
O2​ at 300 K for a volume...
asked 31 minutes ago -
Consider the following tasks, times, and predecessors for an
assembly of set top cable converter boxes:...
asked 30 minutes ago -
10.________ is the proportion of variance in the dependent
variable that is accounted for by the...
asked 43 minutes ago -
Find at least three implicit modelling assumptions or other
qualitative factors which are relevant but not...
asked 44 minutes ago -
Write a method that determines the key of the successor of the
root node in a...
asked 58 minutes ago -
Determine the lattice energy (in kJ/mol) of NaF(s),
using the data provided.
Energy to sublime Na(s)...
asked 1 hour ago -
How do you explain the deviations from Hardy-Weinberg
equilibrium in a population where smoking has effected...
asked 1 hour ago -
As a general rule, testing should be conducted until all bugs
have been detected.
A. True....
asked 1 hour ago -
Just before a referendum on a school​ budget, a local newspaper
polls
436
voters to predict...
asked 1 hour ago