What is the taxpayer's long-term capital gain liability, given the following security sales during the tax year?

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A: Introduction A tax payer's net tax payable or refund is calculated by first determining gross tax…

Q: What is The Net unrealized Gain (Loss) each year? Is the Net unrealized Gain (Loss) taxable?

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A: It is a tax code used to describe a tax-sheltered annuity and it is a retirement plan offered by  i)…

Q: 2021? 3. What is the current income tax payable at Decem

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Q: How do I calculate and record the related after tax cash flow effect(s)?

A: THE FOLLOWING IS THE ANSWER

Q: FUTA TAX MUST BE DEPOSITED WHEN THE CUMULATIVE QUARTERLY TAX LIABILITY EXCEEDS?

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A: Tax credit means amount can be substrate from total payable tax and offset overall liabilities.

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A:

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Q: Q1 Q2 Q3 ues 20,000 25,000 18,000 ions 16.000 30.000 23. 000

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Q: What is the unadjust

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Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.