Question
1. In 2022, single taxpayer had ST capital gains/(losses) of $10,000 and ($5,000) and LT capital gains/(losses) of $10,000 and ($8,000). The taxpayers ordinary taxable
1. In 2022, single taxpayer had ST capital gains/(losses) of $10,000 and ($5,000) and LT capital gains/(losses) of $10,000 and ($8,000). The taxpayers ordinary taxable income before considering capital gains/(losses) is $100,000. Calculate the taxpayers total taxable income and tax liability?
2. In 2022, MFJ taxpayer had ST capital gains/(losses) of $10,000 and ($5,000) and LT capital gains/(losses) of $8,000 and $(10,000). The taxpayers ordinary taxable income before considering capital gains/(losses) is $500,000. Calculate the taxpayers total taxable income and tax liability?
Please use Excel.
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The Life Audit
Authors: Michelle Moroney
1st Edition
978-0717184736
