Question: Problem 4-25 (LO. 3) During the year, Alva received dividends on her stocks as follows: Amur Corporation (a French corporation whose stock is traded on
Problem 4-25 (LO. 3) During the year, Alva received dividends on her stocks as follows: Amur Corporation (a French corporation whose stock is traded on $60,000 an established U.S. securities market) Blaze, Inc., a Delaware corporation 40,000 Grape, Inc., a Virginia corporation 22,000 If an amount is zero, enter "O". 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 $ 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 daughter had purchased the stock two years ago. Veda's tax liability on the dividends is $
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