Asok's AGI for 2015 is $133,050. Included in this AGI is a $45,000 25% long-term capital gain
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Asok's AGI for 2015 is $133,050. Included in this AGI is a $45,000 25% long-term capital gain and a $13,000 0%/15%/20% long-term capital gain. Asok is single, uses the standard deduction, and has only his personal exemption. Compute his taxable income, the tax liability, and the tax savings from the alternative tax on net capital gain?
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Asoks taxable income is 122750 133050 AGI 6300 standard deduction 4000 personal exemption and the ta...View the full answer
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Related Book For 
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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