Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is Not over $19,900 Over $19,900 but not over $81,050 Over $81,050 but not over $172,750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over $418,850 but not over $628,300 Over $628,300 Married Filing Separately If taxable income is Not over $9.950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $314,150 Over $314,150 Head of Household If taxable income is Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86.350 Over $86,350 but not over $164,900 Over $164,900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 Single If taxable income is Not over $9,950 Over $9,950 but not over $40 525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164.925 but not over $209,450 Over $209,450 but not over $523,600 Over $523,600 The tax is 10% of taxable income $1.990.00+12% of excess over $19,900 $9,328.00 +22% of excess over $81,050 $29.502.00 +24% of excess over $172,750 $67.206.0032% of excess over $329,850 $95,686.00+ 35% of excess over $418,850 $168,993.50+37% of excess over $628,300 The ti is 10% of taxable income $995.00+12% of excess over $9.950 $4,664.00 +22% of excess over $40,525 $14,751.00+24% of excess over $86,375 $33,603.00+ 32% of excess over $164,925 $47,843.00+ 35% of excess over $209,425 $84.496.75+37% of excess over $314,150 The tax is 10% of taxable income $1,420.00+12% of excess over $14,200 $6,220.00 22% of excess over $54.200 $13,293.00+24% of excess over $86,350 $32,145.00 32% of excess over $164,900 $46.385.00 35% of excess over $209,400 $156.355.00 37% of excess over $523,600 The tax is 10% of taxable income $995.00+12% of excess over $9.950 $4,664.00 + 22% of excess over $40.525 $14,751.00+24% of excess over $86.375 $33,603.00432% of excess over $164.925 $47,843.00 +35% of excess over $209,425 $157,804.25 +37% of excess over $523,600 Tax rates for capital gains and qualified dividends Married Filing Jointly Married Filing Separately Rate 0% 15% 20% $0-$80,800 $80,801-$501,600 $501,6014 $0-$40,400 $40,401-$250,800 $250,801+ Single $0-$40,400 $40,401-$445,850 Head of Household $0-$54,100 $54,101-$473,750 $445,851+ $473,751+ *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 In 2000, Ms. Ennis, a head of household, contributed $50,000 in exchange for 500 shares of Seta stock. Seta is a qualified small business. This year, Ms. Ennis sold all 500 shares for $117,400. 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 $590,000. Assume the taxable year is 2021. 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 2018 instead of 2000? Required A Required B Required C Compute Ms. Ennis's income tax and Medicare contribu answers to the nearest whole dollar amount.) Taxable income Total income tax Medicare contribution tax Total tax Amount 697 $ 632,300 69 $ 1,607 Required A Required B Required C How would the computation change if Ms. Ennis acquired calculations and final answers to the nearest whole dolla Taxable income Total income tax Medicare contribution tax Total tax Amount Required A Required B Required C How would the computation change if Ms. Ennis calculations and final answers to the nearest who Taxable income Total income tax Medicare contribution tax Total tax Amount