Problem $3-25($LO$.3)$

During the year, Alva received dividends on her stocks as follows:

Amur Corporation $($a French corporation whose stock is traded on

an established U$.$S$.$ securities market$)$ $$60,000$

Blaze, Inc., a Delaware corporation $40,000$

Grape, Inc., a Virginia corporation $22,000$

If an amount is zero, enter $"0".$

Question Content Area

a$.$ Alva purchased the Grape stock three years ago, and she purchased the Amur stock two years ago. She purchased the Blaze stock $18$ days before it went ex$-$dividend and sold it $20$ days later at a $$5,000$ loss. Alva reported no other capital gains and losses for the year. She is in the $32\%$ marginal tax bracket, and applicable qualifying dividend rate is $15\%.$

The amount of her tax on qualifying dividends is $$.$

The amount of her tax on nonqualifying dividends is $

The total tax on all her dividend income is $

Problem $3-25($LO$.3)$

During the year, Alva received dividends on her stocks as follows:

If an amount is zero, enter $"0".$

a$.$ Alva purchased the Grape stock three years ago, and she purchased the Amur stock two years ago. She purchased the Blaze stock $18$

days before it went ex$-$dividend and sold it $20$ days later at a $$5,000$ loss. Alva reported no other capital gains and losses for the year. She

is in the $32\%$ marginal tax bracket, and applicable qualifying dividend rate is $15\%.$

The amount of her tax on qualifying dividends is $

$x.$

The amount of her tax on nonqualifying dividends is $$($

$x.$

The total tax on all her dividend income is $

$x.$

Question Content Area

b$.$ Alva$$s daughter, Veda, who is age $25$ and who is not Alva$$s dependent, reported taxable income of $$6,000,$ which included $$1,000$ of dividends on Grape stock. Veda purchased the stock two years ago.

Veda$$s tax liability on the dividends is $