Naomi uses the filing status of Single for 2021. Her taxable income is $612.353, which includes $25,159 of Qualified Dividends and Long-Term Capital Gains (no 25% or 28% gainsi. How much tax savings does she get from the preferred rates for Qualified Dividends and Long-Term Capital Gains? O so O $2,516 O $5,032 O $4,277 O $3,774

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Naomi uses the filing status of Single for 2021. Her taxable income is $612.353, which includes
$25,159 of Qualified Dividends and Long-Term Capital Gains (no 25% or 28% gainsl. How much tax
savings does she ket from the preferred rates for Qualified Dividends and Long-Term Capital Gains?
O so
O $2,516
O $5,032
O $4,277
O $3,774
Transcribed Image Text:Naomi uses the filing status of Single for 2021. Her taxable income is $612.353, which includes $25,159 of Qualified Dividends and Long-Term Capital Gains (no 25% or 28% gainsl. How much tax savings does she ket from the preferred rates for Qualified Dividends and Long-Term Capital Gains? O so O $2,516 O $5,032 O $4,277 O $3,774
Cole uses the filing status of Married Filing Separately for 2021. His taxable income is $241.635, which
includes $4,268 of Qualified Dividends. What is his income tax for the year?
O $59.757
O $57,623
$59,117
O $58,477
O $58,263
Transcribed Image Text:Cole uses the filing status of Married Filing Separately for 2021. His taxable income is $241.635, which includes $4,268 of Qualified Dividends. What is his income tax for the year? O $59.757 O $57,623 $59,117 O $58,477 O $58,263
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