You are preparing a statement for your coworkers to report current economic conditions to the public,...
You are preparing a statement for your coworkers to report current economic conditions to the public, specifically tax rates on capital gains for this last year. Sarah purchased 100 shares of Pear Company stock for $20 per share; in one year, she sold the 100 shares for $25 a share. Over the year, the inflation rate was 3%. If the tax rate on nominal capital gain is 50%, how much tax does Sarah pay on her gain?
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You are preparing a statement for your coworkers to report
current economic conditions to the public,...
Norbert purchased 100 shares of Gentech stock for $200 per share in year 1 and sold...
Norbert purchased 100 shares of Gentech stock for $200 per share in year 1 and sold all the shares in year 2 for $220 a share. Between year 1 and year 2, the price index increased by 5 percent. The tax on capital gains is 50 percent. If the capital gains tax is on nominal gains, how much tax does Norbert pay on his gain? $950 $1000 $900 $1050 Question 40 (1 point) In order to maintain stable prices, what...
Christopher sold 140 shares of Cisco stock for $8,820 in the current year. he purchased the...
Christopher sold 140 shares of Cisco stock for $8,820 in the current year. he purchased the shares serveral years ago for $3,640. assuming his ordinary income tax rate is 24 percent, and he no other capital gains or losses, how much tax will he pay on this gain? (use the dividends and capital gains tax rates and tax rate schedule. ) tax to be paid can you please type it out thank you that's all the info I have on...
27. Carrie retired last week and received a lump sum distribution of her employer's stock from...
27. Carrie retired last week and received a lump sum distribution of her employer's stock from the company's stock bonus plan. The value of the shares at the time of contribution varied. The 1st contribution was 2,500 shares at $10 per share. The 2nd consisted of 2,500 shares at $13 per share, and the last 2,500 shares were valued at $15 per share. All stock was contributed by the emplover, and the current value of the stock on the date...
B. Investing Fundamentals 1.a Return on Stock. Mica purchased 1000 shares of stock for $28 per...
B. Investing Fundamentals 1.a Return on Stock. Mica purchased 1000 shares of stock for $28 per share. During the year, she received dividend checks amounting to $2,000. Mica recently sold the stock for $33 per share. What was Mica's percentage return on the stock (including both dividends and capital gains)? Work: 35 Rokkos Fall 2019 Problem Set 3 Answer Point Value Points Earned 36 1.b Capital Gains Tax. Mica is single and is in a 32% tax bracket. What amount...
C) only rich people D) all s 9) Suppose you purchased 100 shares of stock in...
C) only rich people D) all s 9) Suppose you purchased 100 shares of stock in 2000 for $25 a share and you sell them today for $509) a share. If the capital gains tax is 28 percent, your tax liability is A) $70. B) $700. C) $2500 D) indeterminate without knowing the inflation rate.. 10) Corporate profits are A) taxed three 10) times-once by the corporate tax system, again by the personal tax system, and again as capital gains....
Problem 7-52 (LO 7-2) Christopher sold 220 shares of Cisco stock for $17,380 in the current...
Problem 7-52 (LO 7-2) Christopher sold 220 shares of Cisco stock for $17,380 in the current year. He purchased the shares several years ago for $7,040. Assuming his ordinary income tax rate is 24 percent, and he has no other capital gains or losses, how much tax will he pay on this gain? (Use the dividends and capital gains tax rates and tax rate schedules.) Tax to be paid
8. You buy stock and its price rises at a rate of five percent. Inflation for...
8. You buy stock and its price rises at a rate of five percent. Inflation for the same period rises at a rate of five percent. Before taxes you made A. a nominal and real loss, but you pay taxes on the real loss. B. a nominal and real gain, and you pay taxes on the nominal gain. C. a nominal and real gain, but you pay taxes only on the real gain. D. a nominal gain, but no real...
Last year Marla purchased 100 shares of stocks for $8 per share. She paid a flat...
Last year Marla purchased 100 shares of stocks for $8 per share. She paid a flat $75 to purchase the shares. Since making her purchase, she has received $200 in dividends. Marla is concerned that the stock price will fall below its current FMV of $7. Calculate her holding-period return if she sells today and pays a $75 commission. Swarn bought 200 shares of a stock for $36 per share. He paid $245 in trading commissions. He received dividends in...
For B) the answer I got is $16,595 from $17,250-$457.88-$197.10 I taxed the capital gains at...
For B) the answer I got is $16,595 from
$17,250-$457.88-$197.10
I taxed the capital gains at 20.35%, the dividends are grossed
up by 38% with eligible dividend tax at 21.64%. Not sure if my
answer is correct though. Use the 2017 rates. All help is
appreciated for b) and c).
: Donna works in BC as a security analyst. Her salary for 2017 was $130,000. In 2014, she bought 1500 shares of a large public company at $10/share on which...
7) Sandra invested $10,000 in a Tax-Free Savings Account (TFSA) last year and it has a...
7) Sandra invested $10,000 in a Tax-Free Savings Account (TFSA) last year and it has a value of $12,000 today. She also invested $10,000 in a Registered Retirement Savings Account (RRSP) last year and it has a value of $15,000 today. With the market uncertainty today, Sandra decides to withdraw the entire amounts from both accounts. On what amounts will Sandra need to pay tax on? a) Only on the initial $20,000 invested in each account b) On the total...
Norbert purchased 100 shares of Gentech stock for $200 per share in year 1 and sold all the shares in year 2 for $220 a share. Between year 1 and year 2, the price index increased by 5 percent. The tax on capital gains is 50 percent. If the capital gains tax is on nominal gains, how much tax does Norbert pay on his gain? $950 $1000 $900 $1050 Question 40 (1 point) In order to maintain stable prices, what...
27. Carrie retired last week and received a lump sum distribution of her employer's stock from the company's stock bonus plan. The value of the shares at the time of contribution varied. The 1st contribution was 2,500 shares at $10 per share. The 2nd consisted of 2,500 shares at $13 per share, and the last 2,500 shares were valued at $15 per share. All stock was contributed by the emplover, and the current value of the stock on the date...
B. Investing Fundamentals 1.a Return on Stock. Mica purchased 1000 shares of stock for $28 per share. During the year, she received dividend checks amounting to $2,000. Mica recently sold the stock for $33 per share. What was Mica's percentage return on the stock (including both dividends and capital gains)? Work: 35 Rokkos Fall 2019 Problem Set 3 Answer Point Value Points Earned 36 1.b Capital Gains Tax. Mica is single and is in a 32% tax bracket. What amount...
C) only rich people D) all s 9) Suppose you purchased 100 shares of stock in 2000 for $25 a share and you sell them today for $509) a share. If the capital gains tax is 28 percent, your tax liability is A) $70. B) $700. C) $2500 D) indeterminate without knowing the inflation rate.. 10) Corporate profits are A) taxed three 10) times-once by the corporate tax system, again by the personal tax system, and again as capital gains....
Problem 7-52 (LO 7-2) Christopher sold 220 shares of Cisco stock for $17,380 in the current year. He purchased the shares several years ago for $7,040. Assuming his ordinary income tax rate is 24 percent, and he has no other capital gains or losses, how much tax will he pay on this gain? (Use the dividends and capital gains tax rates and tax rate schedules.) Tax to be paid
For B) the answer I got is $16,595 from
$17,250-$457.88-$197.10
I taxed the capital gains at 20.35%, the dividends are grossed
up by 38% with eligible dividend tax at 21.64%. Not sure if my
answer is correct though. Use the 2017 rates. All help is
appreciated for b) and c).
: Donna works in BC as a security analyst. Her salary for 2017 was $130,000. In 2014, she bought 1500 shares of a large public company at $10/share on which...
7) Sandra invested $10,000 in a Tax-Free Savings Account (TFSA) last year and it has a value of $12,000 today. She also invested $10,000 in a Registered Retirement Savings Account (RRSP) last year and it has a value of $15,000 today. With the market uncertainty today, Sandra decides to withdraw the entire amounts from both accounts. On what amounts will Sandra need to pay tax on? a) Only on the initial $20,000 invested in each account b) On the total...
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