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In 2000, Ms. Ennis, a head of household, contributed $68,000 in exchange for 680 shares of Seta stock. Seta is a qualified small business. This

In 2000, Ms. Ennis, a head of household, contributed $68,000 in exchange for 680 shares of Seta stock. Seta is a qualified small business. This year, Ms. Ennis sold all 680 shares for $116,000. Her only other investment income was an $8,600 long-term capital gain from the sale of land. Her taxable income before consideration of her two capital transactions is $528,000. Assume the taxable year is 2022. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends Required: a. Compute Ms. Ennis's income tax and Medicare contribution tax for the year. b. How would the computation change if Ms. Ennis acquired the Seta stock in 2011 instead of 2000? c. How would the computation change if Ms. Ennis acquired the Seta stock in 2019 instead of 2000? Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute Ms. Ennis's income tax and Medicare contribution tax for the year. Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. Taxable income Total income tax Medicare contribution tax Total tax Amount If taxable income is Not over $20,550 Over $20,550 but not over $83,550 Over $83,550 but not over $178,150 Over $178,150 but not over $340,100 Over $340,100 but not over $431,900 Over $431,900 but not over $647,850 Over $647,850 Married Filing Separately If taxable income is Not over $10,275 Over $10,275 but not over $41,775 Over $41,775 but not over $89,075 Over $89,075 but not over $170,050 Over $170,050 but not over $215,950 Over $215,950 but not over $323,925 Over $323,925 Head of Household If taxable income is Not over $14,650 Over $14,650 but not over $55,900 Over $55,900 but not over $89,050 Over $89,050 but not over $170,050 Over $170,050 but not over $215,950 Over $215,950 but not over $539,900 Over $539,900 Single If taxable income is Not over $10,275 Over $10,275 but not over $41,775 Over $41,775 but not over $89,075 Over $89,075 but not over $170,050 Over $170,050 but not over $215.950 The tax is 10% of taxable income $2,055.00+12% of excess over $20,550 $9.615.00+22% of excess over $83,550 $30,427.00+24% of excess over $178,150 $69,295.00+32% of excess over $340,100 $98,671.00+35% of excess over $431,900 $174,253.50+37% of excess over $647,850 The tax is 10% of taxable income $1,027.50+ 12% of excess over $10,275 $4,807.50+22% of excess over $41,775 $15,213.50+ 24% of excess over $89,075 $34,647.50+32% of excess over $170,050 $49 335.50+ 35% of excess over $215,950 $87,126.75 + 37% of excess over $323,925 The tax is 10% of taxable income $1,465.00+12% of excess over $14,650 $6,415.00+22% of excess over $55,900 $13,708.00+24% of excess over $89,050 $33,148.00+32% of excess over $170,050 $47,836.00+35% of excess over $215,950 $161.218.50+37% of excess over $539,900 The tax is 10% of taxable income $1,027.50+12% of excess over $10,275 $4,807.50+22% of excess over $41,775 $15,213.30+24% of excess over $89,075 $34.647 50+32% of excess over $170,050 Tax rates for capital gains and qualified dividends. Rate 0% 15%** Married Filing Jointly Married Filing Separately $0-$83,350 $83,351-$517,200 $517,201+ $0-$41,675 $41,676-$258,600 $258,601+ 20% $0-$55,800 Single $0-$41,675 Head of Household $41,676-$459,750 $459,751+ $55,801-$488,500 $488,501+ The highest income amount in this range for each filing status is referred to as maximum zero rate amount. **The highest income amount in this range for each filing status is referred to as maximum 15-percent amount

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