Jake sold stocks shares he had owned 3 years. Jake is in the 35% marginal tax bracket and his capital gains from this sale were $28,998. How much tax would Tom owe on those gains?
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Jake sold stocks shares he had owned 3 years. Jake is in the 35% marginal tax bracket and his
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- Diana sold mutual fund shares she had owned 4 years so that she could use the proceeds to travel across Europe with her son. Diana is in the 35% marginal tax bracket and her capital gains from this sale were $24,230. How much tax would Diana owe on those gains? (Report an integer)Aaron, an individual taxpayer in the 28% tax bracket, acquired stock in AB Corporation 5 years ago for $2,000. AB Corp. redeemed all Aaron's shares for $3,000 in 2016. (a) What is Aaron's tax liability from this transaction if it qualifies for a sale or exchange treatment? (b) What is Aaron's tax liability from this transaction if it qualifies for a dividend treatment?Sean, a shareholder of Crimson Corporation, is in the 35% tax bracket. This year, he receives a $7,000 qualified dividend from Crimson. Sean has investment interest expense of $16,000 and net investment income of $9,000 (not including the qualified dividend). Assume that Sean does not expect to have any investment income in the foreseeable future. Should Sean treat the distribution as a qualified dividend (subject to a 15% tax rate) or classify it as net investment income?
- Charles and Martha (both age 30), cach saved $15,000 (pre tax) at the end of every year over their working lives. Both worked till age 65 years. Charles saved his money in a qualified pension plan while Martha saved in her personal account after paying taxes. Martha turned over her portfolio every year and the combination of ordinary income on dividends and interest and capital gains on sale of stock came to a 20% tax rate on investment retums. If both generated a pretax retum of 6% per year and were in 25% marginal tax bracket throughout their lives, compute the difference in their net accumulated savings at retirement $167,137 O $278,654 $222,849 O $696.535Tom sold mutual fund shares he had him three years ago so that he could use the proceeds to return to college Thomas in the 15% marginal tax bracket in his capital gains from the scale were $96,355. How much tax would Tom Owen those gains?Anne and Jose Romero are in the 24 percent marginal federal tax bracket. Two years ago they purchased 100 shares of ABC stock for $28 per share, paying commissions of $75. Last week they sold this stock for $35 per share and paid commissions of $50. How much is their taxable capital gain on this investment?