Problem $8-63$ Part a $($Algo$)$ Assessment Tool iFrame

Required information

Problem $8-63($LO $8-1)($LO $8-3)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Henrich is a single taxpayer. In $2024,$ his taxable income is $$542,500.$ What are his income tax and net investment income

tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates

for reference.

Note: Leave no answer blank. Round your final income tax amount to $2$ decimal places. Round your Net investment

income tax to the nearest whole number.

Problem $8-63$ Part b $($Algo$)$

b$.$ His $$542,500$ of taxable income includes $$2,000$ of long$-$term capital gain that is taxed at preferential rates, and $$8,500$ of

deductible state income taxes. Assume his modified AGI $($and AGI$)$ is $$620,000.$ Problem $8-63$ Part c $($Algo$)$

c$.$ His $$542,500$ of taxable income includes $$64,000$ of long$-$term capital gain that is taxed at preferential rates, and $$8,500$ of

deductible state income taxes. Assume his modified AGI $($and AGI $)$ is $$620,000.$ Required information

Problem $8-63($LO $8-1)($LO $8-3)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Henrich is a single taxpayer. In $2024,$ his taxable income is $$542,500.$ What are his income tax and net investment income

tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates

for reference.

Note: Leave no answer blank. Round your final income tax amount to $2$ decimal places. Round your Net investment

income tax to the nearest whole number.

Problem $8-63$ Part d $($Algo$)$

d$.$ Henrich has $$201,250$ of taxable income, which includes $$52,500$ of long$-$term capital gain that is taxed at preferential rates, and

$$8,500$ of deductible state income taxes. Assume his modified AGI $($and AGI $)$ is $$222,500.$

a$.$ All of his income is salary from his employer. Assume his modified AGI $($and AGI $)$ is $$620,000.$