Tax class

please note that question #3 is base on #2. Question #3, Taxpayer is in the highest federal tax bracket in the current year earning $500,000 of ordinary income taxed at a flat 30% rate.

the current year? 2. deduction), what is S's tax liability under $ 1 in the current year? S, a single taxpayer, is a high-income taxpayer with a salary of $500$$ of capital assets: (1) a gain of $120,000 on stock held for 15 months and (2) in the current year. S also has the following transactions involving the sale ordinary income and disregarding any deductions (including the standard loss of $20,000 on stock held for 3 years. Assume there is a flat 30% taxon 3. Taxpayer, who is in the highest federal tax bracket in the current year, has a $5,000 gain from a collectible and a $5,000 gain from stock, both held long-term. (a) What is Taxpayer's net capital gain and how is it taxed if Taxpayer also has a $5,000 loss from a collectible held long- term? (b) What results in (a), above, if instead Taxpayer's $5,000 loss is from stock held long-term? (c) What results in (a), above, if instead Taxpayer's $5,000 loss is from stock held for 9 months rather than from the collectible? (d) What is Taxpayer's net capital gain and how is it taxed if Taxpayer has a $5,000 gain from a collectible, a $5,000 unrecaptured 1250 gain, a $5,000 gain from stock, and a $10,000 loss from stock, all held long-term? 3