Question
Henrich is a single taxpayer. In 2017, his taxable income is $425,000. What is his income tax and net investment income tax liability in each
Henrich is a single taxpayer. In 2017, his taxable income is $425,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule for reference. b. His $425,000 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates. Income tax Net investment income tax Total tax liability $0.00 c. His $425,000 of taxable income includes $55,000 of long-term capital gain that is taxed at preferential rates. Income tax Net investment income tax Total tax liability $0.00 d. Henrich has $195,000 of taxable income, which includes $50,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $210,000. Income tax Net investment income tax Total tax liability $0.00
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