Joey pays 15% in dividends and capital gain taxes and 40% in ordinary income taxes.In January, she purchased 600 shares of a no-load mutual fund for $29.61 a sharewith the provision that all distributions are reinvested. In October, she sold 300shares for $59.32. At the end of the year, she received a statement stating the fundhad distributions to her of $228 in qualified dividend income, $1,393 in long-termcapital gains, and $1,592 in short term capital gains. What are Joey's taxes on thisinvestment?Round the answer to two decimalsYour Answer:Answer

Taxes refers to the mandatory charges levied by the government on the sum value of money gained by…

= provision that all distributions are reinvestēd. IK or $59.32. At the end of the year, she received as ributions to her of $228 in qualified dividend incc gains, and $1,592 in short term capital gains. Wha ent? he answer to two decimals swer:

= provision that all distributions are reinvestēd. IK or $59.32. At the end of the year, she received as ributions to her of $228 in qualified dividend incc gains, and $1,592 in short term capital gains. Wha ent? he answer to two decimals swer:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.

Question

Joey pays 15% in dividends and capital gain taxes and 40% in ordinary income taxes.
In January, she purchased 600 shares of a no-load mutual fund for $29.61 a share
with the provision that all distributions are reinvested. In October, she sold 300
shares for $59.32. At the end of the year, she received a statement stating the fund
had distributions to her of $228 in qualified dividend income, $1,393 in long-term
capital gains, and $1,592 in short term capital gains. What are Joey's taxes on this
investment?
Round the answer to two decimals
Your Answer:
Answer

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