During 2022, Maryjane, a single taxpayer, received the following gains and losses: LTCG LTCL STCG STCL a. b. $10,000 3,000 2,000 7,000 How much is Maryjane's tax liability if she has taxable income of $34,000 and is in the 12% tax bracket? How much is Maryjane's tax liability if her taxable income is $195,000 and her tax bracket is 32% (not 12%)?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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During 2022, Maryjane, a single taxpayer, received the following gains and losses:
LTCG
LTCL
STCG
STCL
a.
O
$10,000
3,000
2,000
7,000
How much is Maryjane's tax liability if she has taxable income of
$34,000 and
is in the 12% tax bracket?
How much is Maryjane's tax liability if her taxable income is $195,000
and her tax bracket is 32% (not 12%)?
Transcribed Image Text:During 2022, Maryjane, a single taxpayer, received the following gains and losses: LTCG LTCL STCG STCL a. O $10,000 3,000 2,000 7,000 How much is Maryjane's tax liability if she has taxable income of $34,000 and is in the 12% tax bracket? How much is Maryjane's tax liability if her taxable income is $195,000 and her tax bracket is 32% (not 12%)?
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