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Author Question: Renee is single and has taxable income of $480,000 without considering the sale of a capital asset ... (Read 109 times)

futuristic

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on: Sep 13, 2020

Question 1

Olivia, a single taxpayer, has AGI of $280,000 which includes $220,000 of salary and $60,000 of investment income.  She will pay Medicare tax on the $60,000 of investment income of
◦ $0.
◦ $2,280.
◦ $9,000.
◦ $870.

Question 2

Renee is single and has taxable income of $480,000 without considering the sale of a capital asset (land held for investment) in September of 2016 for $25,000. That asset was purchased six years earlier and has a tax basis of $5,000. The tax liability applicable to only the capital gain (without consideration of the additional Medicare tax) is
◦ $7,920.
◦ $5,600.
◦ $3,000.
◦ $4,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by futuristic on Sep 13, 2020

frogdreck123456

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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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futuristic

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

ricroger

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Reply 3 on: Yesterday
Wow, this really help

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