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Author Question: Maya expects to report about $2 million of AGI and $1.7 million of taxable income. Her AGI is ... (Read 157 times)

newbem

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on: Sep 13, 2020

Question 1

Kendrick, who has a 33% marginal tax rate, had the following results from transactions during the year:



After offsetting the STCL, what is (are) the resulting gain(s)?
◦ $16,000 collectibles gain, $8,000 LTCG
◦ $20,000 collectibles gain, $4,000 LTCG
◦ $24,000 LTCG
◦ $20,000 collectibles gain, $8,000 LTCG

Question 2

Maya expects to report about $2 million of AGI and $1.7 million of taxable income. Her AGI is composed of $1.25 million of salary, and the balance is investment income. Maya is thinking about selling some stock before year-end. She purchased the stock three years ago and expects to recognize a $500,000 gain. How much federal tax will she pay in total on the stock gain?
◦ $119,000
◦ $100,000
◦ $75,000
◦ $198,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by newbem on Sep 13, 2020

Li Jun

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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newbem

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Reply 2 on: Sep 13, 2020
Wow, this really help

robbielu01

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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