Jennifer is single and has the following income and expenses: Salary$76,000 Interest income 5,000 Dividend income 9,000

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Jennifer is single and has the following income and expenses:

Salary$76,000

Interest income 5,000

Dividend income 9,000

Long-term capital gain 10,000

Short-term capital loss 14,000

Deductions for AGI 3,000

Deductions from AGI 9,000

Calculate Jennifer's taxable income and income tax liability.

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 03:42 AM

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Jennifer is single and has the following income and expenses: Salary$76,000 Interest income 5,000 Dividend income 9,000

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Jennifers taxable income is 71300 and her income tax liability is 13050 Jennifer has a 4000 14000 sh...View the full answer

Concepts In Federal Taxation

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