Ronnie owns 600 shares of a stock mutual fund. This year he received dividend distributions of sixty
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Ronnie owns 600 shares of a stock mutual fund. This year he received dividend distributions of sixty stock mutual fund shares ($40 per share) and long-term capital gain distributions of forty-five stock mutual fund shares (also $40 per share). What are the tax consequences of Ronnie’s stock mutual fund ownership if he is in a 22% marginal tax bracket?
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Ronnie will have to pay taxes in the amount of 630 Total tax 360 27...View the full answer
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