In 2018, Melissa uses the single filing status, and has $54,000 of taxable income that includes the

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In 2018, Melissa uses the single filing status, and has $54,000 of taxable income that includes the following:

Long-term capital gain from the sale of ABC Corp stock - $21,000

Long-term capital gain from the sale of a stamp collection - $9,800

Long-term capital loss from the sale of antique vase - $ (3,400)

Short-term capital loss from the sale of XYZ Corp. stock - $ (1,600)

Qualified dividend income - $7,800

How much is ordinary income for 2018?

How much is the total tax liability for 2018?

Related Book For answer-question

Fundamentals of Taxation 2015

ISBN: 9781259293092

8th edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Posted Date: Jun 24, 2021 12:32 PM

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In 2018, Melissa uses the single filing status, and has $54,000 of taxable income that includes the

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Fundamentals of Taxation 2015

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