In 2021, Russell Rogers is single with net investment income of $18,000 and modified adjusted gross income of $270,000. What is the amount of Russell's net investment income tax for the year? A $ 2,660 B 680 760 E None of the above Judith Jones, single, reports four sales of capital assets during 2021, as set out below. $4,000 12,000 Long-term capital gain Long term capital loss Short term capital loss Short term capital gain 1,000 2,000 Taxpayer's only other income for the year is salary of $80,000. What is Judith's adjusted gross income for the year? A $80,000 B 73,000 86.000 D 70,000 None of the above

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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In 2021, Russell Rogers is single with net investment income of $18,000 and modified
adjusted gross income of $270,000. What is the amount of Russell's net investment income
tax for the year?
4.
A
$ 2,660
В
680
760
None of the above
Judith Jones, single, reports four sales of capital assets during 2021, as set out below.
Long-term capital gain
Long term capital loss
Short term capital loss
Short term capital gain
5.
$4,000
12,000
1,000
2,000
Taxpayer's only other income for the year is salary of $80,000. What is Judith's
adjusted gross income for the year?
A
$80,000
B
73,000
86.000
D
70,000
E
None of the above
Transcribed Image Text:In 2021, Russell Rogers is single with net investment income of $18,000 and modified adjusted gross income of $270,000. What is the amount of Russell's net investment income tax for the year? 4. A $ 2,660 В 680 760 None of the above Judith Jones, single, reports four sales of capital assets during 2021, as set out below. Long-term capital gain Long term capital loss Short term capital loss Short term capital gain 5. $4,000 12,000 1,000 2,000 Taxpayer's only other income for the year is salary of $80,000. What is Judith's adjusted gross income for the year? A $80,000 B 73,000 86.000 D 70,000 E None of the above
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