Sara is filing as head of household and has a 2023 taxable income of $66, 000, which includes $3,000 of net long-term capital gain. The net long-term capital gain is made up of $1,000 25% gain and $2,000 0 % / 15 % / 20% gain. What is the tax on her taxable income using the alternative tax method? Note: use tax rate schedule rather than the tax table a. $0 b. $8, 221 c. $8,311 d. $8,081

Sara is filing as head of household and has a 2023 taxable income of $66, 000, which includes $3,000 of net long-term capital gain. The net long-term capital gain is made up of $1,000 25% gain and $2,000 0 % / 15 % / 20% gain. What is the tax on her taxable income using the alternative tax method? Note: use tax rate schedule rather than the tax table a. $0 b. $8, 221 c. $8,311 d. $8,081

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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