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If Julia Diaz is single and in the 22% tax bracket, calculate the tax impact of each of the following security transactions. (Use the IRS

If Julia Diaz is single and in the 22% tax bracket, calculate the tax impact of each of the following security transactions. (Use the IRS regulations for capital gains in effect in 2018.)

EXHIBIT 3.2 [Math Processing Error] Capital Gains Tax as of 2018
Short-term gains from the sale or exchange of property (investment assets not used in a business) and held for less than 12 months are taxed at the same rates as ordinary income (10%, 12%, 22%, 24%, 32%, 35%, and 37%). Long-term gains from the sale or exchange of property held for more than 12 months are taxed as follows:
Ordinary Tax Rate Alternative Capital Gains Tax Rate
10% or 12% 0%
22%, 24%, 32%, or 35% 15%
37% 20%

Treat each of the following cases as independent of the others.

  1. She sold stock for $2,420 that she purchased for $2,000 11 months earlier. Round the answer to the nearest cent. Tax savings should be preceded by a "-" sign. $
  2. She sold bonds for $3,200 that she purchased for $2,000 4 years earlier. Round the answer to the nearest dollar. Tax savings should be preceded by a "-" sign. $
  3. She sold stock for $1,700 that she purchased for $2,000 9 months earlier. Assume this to be the only Stock in Arabella's portfolio. Round the answer to the nearest cent. Tax savings should be preceded by a "-" sign. $

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