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Charles pays 15% in dividend and capital gains taxes and 25% in ordinary income taxes. Two years ago, Charles purchased 100 shares in a REIT
Charles pays 15% in dividend and capital gains taxes and 25% in ordinary income taxes. Two years ago, Charles purchased 100 shares in a REIT for $47 a share. The REIT has not made any distributions in excess of net income, but did distribute $365 in short-term gains, $222 in long-term gains, and $137 in ordinary dividends this year. What are the taxes this year on this investment?
the correct answer is 158.80
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