A single taxpayer has $15,000 of ordinary taxable income in 2013, a $9,000 long-term capital gain on

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A single taxpayer has $15,000 of ordinary taxable income in 2013, a $9,000 long-term capital gain on the sale of an antique painting, a $10,000 unrecaptured Section 1250 gain on realty, and a $25,000 gain on the sale of bonds.
a. What is his 2013 tax liability?
b. How would your answer change if his ordinary taxable income was $225,000?
c. How would your answer change if his ordinary taxable income was $380,000?
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Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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