Pinky Higgins and spouse had taxable income of $120,000 last year, which includes a capital gain of

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Pinky Higgins and spouse had taxable income of $120,000 last year, which includes a capital gain of $20,000. What is their tax bill if the gain is entirely short-term? What is their tax bill if the gain is derived from assets held for 13 months?

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Fundamentals of Investments

ISBN: 978-0132926171

3rd edition

Authors: Gordon J. Alexander, William F. Sharpe, Jeffery V. Bailey

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Question Posted: Mar 16, 2016 02:48 AM

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Pinky Higgins and spouse had taxable income of $120,000 last year, which includes a capital gain of

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Ignoring capital gains the Higgins income of 120000 would put them in the 31 marginal tax bracket Wi...View the full answer

Fundamentals of Investments

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