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If Nicole Espinoza is single and in the 2 2 percent tax bracket, calculate the tax associated with each of the following transactions. ( Hint:
If Nicole Espinoza is single and in the percent tax bracket, calculate the tax associated with each of the following transactions. Hint: Use the IRS regulations for capital gains in effect in shown below.
Capital Gains Tax as of
Shortterm gains from the sale or exchange of property investment assets not used in a business and held for less than months are taxed at the same rates as ordinary income and percent Longterm gains from the sale or exchange of property held for more than months and dividends from domestic corporations are taxed as follows:
Ordinary Tax Rate Alternative Capital Gains Tax Rate
or
or
Treat each of the following cases as independent of the others. Tax savings should be preceded by a sign. Round the answers to the nearest cent.
She sold stock for $ that she purchased for $ months earlier.
$
She sold bonds for $ that she purchased for $ years earlier.
$
She sold stock for $ that she purchased for $ months earlier. Assume this to be the only Stock in Nicole's portfolio.
$
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