am Capital Assets Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends Capital Gains and...

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am Capital Assets Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses Ordinary income tax rates (up to 37% in 2023) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec. 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing status as shown in the following table: Preferential Rate 0% Single Up to $44,625 15% >$44,625 but not over $492.300 20% Over $492,300 Filing Jointly Up to $89.250 $89,250 but not over $553.850 Over $553,850 Head of Household i Up to $59,750 >$59,750 but not over $523,050 Over $523,050 asing AGI on dec The corresponding amounts if married filing separately are half of the amounts for fling jointly. The preferential rate is zero for taxable income up to $44,625 if married filing separately Asset Gain or (Loss) Holding Period tax A 13,500 15 months B 11.000 20 months C (1,000) 14 months Print Done Print Done Single If taxable income is Not over $11,000 Over $11,000 but not over $44,725 Over $44,725 but not over $95,375 Over $95,375 but not over $102,1001 Over $182,100 but not over $231,250 Over $231,250 but not over $578,125 Over $578,125 The taxis: 10% of taxable income $1,100.00 12% of the excess over $11,000 $5,147.00 22% of the excess over $44,725 $16,290.00 24% of the excess over $95.375 $37.104.00 32% of the excess over $182.100 $52.832.00 35% of the excess over $231,250, $174.238 25 37% of the excess over $578.125 Kat, who is single and has taxable income of $320,000, sells the following capital assets in 2023 with gains and losses as shown: View the capital assets. View the 2023 Tax rate schedule for the State filing status View the Preferential Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends Read the requirements Requirement a. Determine Kat's increase in income tax liability as a result of the three sales. All assets are stock held for investment. Ignore the effect of increasing AGI on deductions and phaseo amounts Increase in tax lability 5106.25 Requirement b. Determine her increase in income tax liability if the holding period for asset B is 8 months. Increase in tax liability Requirement c. Determine her increase in income tax liability if the holding periods are the same as in Part a but asset B is an antiquclock Increase in tax Bability Requirement d. Determine her increase in income tax liability if her taxable income is $530,000 Increase in tax lability am Capital Assets Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends Capital Gains and Dividends Capital gains and losses are assigned to baskets. Five possible tax rates will apply to most capital gains and losses Ordinary income tax rates (up to 37% in 2023) for gains on assets held one year or less 28% rate on collectibles gains and includible Sec. 1202 gains Preferential tax rates for gains on assets held for more than one year and qualified dividends based on the taxpayer's taxable income and filing status as shown in the following table: Preferential Rate 0% Single Up to $44,625 15% >$44,625 but not over $492.300 20% Over $492,300 Filing Jointly Up to $89.250 $89,250 but not over $553.850 Over $553,850 Head of Household i Up to $59,750 >$59,750 but not over $523,050 Over $523,050 asing AGI on dec The corresponding amounts if married filing separately are half of the amounts for fling jointly. The preferential rate is zero for taxable income up to $44,625 if married filing separately Asset Gain or (Loss) Holding Period tax A 13,500 15 months B 11.000 20 months C (1,000) 14 months Print Done Print Done Single If taxable income is Not over $11,000 Over $11,000 but not over $44,725 Over $44,725 but not over $95,375 Over $95,375 but not over $102,1001 Over $182,100 but not over $231,250 Over $231,250 but not over $578,125 Over $578,125 The taxis: 10% of taxable income $1,100.00 12% of the excess over $11,000 $5,147.00 22% of the excess over $44,725 $16,290.00 24% of the excess over $95.375 $37.104.00 32% of the excess over $182.100 $52.832.00 35% of the excess over $231,250, $174.238 25 37% of the excess over $578.125 Kat, who is single and has taxable income of $320,000, sells the following capital assets in 2023 with gains and losses as shown: View the capital assets. View the 2023 Tax rate schedule for the State filing status View the Preferential Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends Read the requirements Requirement a. Determine Kat's increase in income tax liability as a result of the three sales. All assets are stock held for investment. Ignore the effect of increasing AGI on deductions and phaseo amounts Increase in tax lability 5106.25 Requirement b. Determine her increase in income tax liability if the holding period for asset B is 8 months. Increase in tax liability Requirement c. Determine her increase in income tax liability if the holding periods are the same as in Part a but asset B is an antiquclock Increase in tax Bability Requirement d. Determine her increase in income tax liability if her taxable income is $530,000 Increase in tax lability