Question: b . His $ 5 3 8 , 0 0 0 of taxable income includes $ 2 , 0 0 0 of long - term

b. His $538,000 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates, and $8,320 of deductible state income taxes. Assume his modified AGI (and AGI) is $602,000.

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