Question
Henrich is a single taxpayer. In 2018, his taxable income is $458,500. What is his income tax and net investment income tax liability in each
Henrich is a single taxpayer. In 2018, his taxable income is $458,500. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places. Leave no answer blank. Enter zero if applicable.)
b. His $458,500 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates.
c. His $458,500 of taxable income includes $56,000 of long-term capital gain that is taxed at preferential rates.
d. Henrich has $199,250 of taxable income, which includes $51,700 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $210,000.
I just need the Income Tax.
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