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Three years ago, Kenesha purchased $10,000 worth of stock in major U.S. corporations. She spent $6000 on PEACH and $4,000 on GlobalHealth. Today, Kenesha decides to sell all her shares for $9,000. PEACH had decreased in value to $1,000 and GlogalHealth has increased in value to $8,000. What does she owe in taxes on this income? Show your work.

Three years ago, Kenesha purchased $10,000 worth of stock in major U.S. corporations. She spent $6000 on PEACH and $4,000 on GlobalHealth. Today, Kenesha decides to sell all her shares for $9,000. PEACH had decreased in value to $1,000 and GlogalHealth has increased in value to $8,000. What does she owe in taxes on this income? Show your work.

FINANCIAL ACCOUNTING
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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4 Three years ago, Kenesha purchased $10,000 worth of stock in major U.S. corporations. She spent $6,000 on PEACH and $4,000 on GlobalHealth. Today, Kenesha decides to sell all her shares for $9,000. PEACH had decreased in value to $1,000 and GlogalHealth has increased in value to $8,000. What does she owe in taxes on this income? Show your work. Finish attempt.. Long term capital gains rates: FILING STATUS 0% RATE 15% RATE 20% RATE Single Up to $40,400 $40,401-$445,850 Over $445,850 Married filing jointly Up to $80,800 $80,801 - $501,600 Over $501,600 Married filing separately Up to $40,400 $40,401-$250,800 Over $250,800 Head of household Up to $54,100 $54,101 - $473,750 Over $473,750
Transcribed Image Text:4 Three years ago, Kenesha purchased $10,000 worth of stock in major U.S. corporations. She spent $6,000 on PEACH and $4,000 on GlobalHealth. Today, Kenesha decides to sell all her shares for $9,000. PEACH had decreased in value to $1,000 and GlogalHealth has increased in value to $8,000. What does she owe in taxes on this income? Show your work. Finish attempt.. Long term capital gains rates: FILING STATUS 0% RATE 15% RATE 20% RATE Single Up to $40,400 $40,401-$445,850 Over $445,850 Married filing jointly Up to $80,800 $80,801 - $501,600 Over $501,600 Married filing separately Up to $40,400 $40,401-$250,800 Over $250,800 Head of household Up to $54,100 $54,101 - $473,750 Over $473,750
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