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Justin had AGI of $106,000 and taxable income of $91,000 (after $15,000 itemized deductions). His taxes were $15,682. Here is some additional information. Over and
Justin had
- AGI of $106,000 and
- taxable income of $91,000 (after $15,000 itemized deductions).
- His taxes were $15,682.
Here is some additional information. Over and above the AGI above, Justin had the following capital transaction:
Security | Date purchased | Cost | Date sold | Sales price |
Stock B | 7/6/2021 | 10,000 | 7/7/2022 | 14,000 |
Required:
1. Show tax calculations, including tax tables and capital gains tax tables
2. Please complete the following forms (if no link provided, please google it):
- Start with Schedule D
- Form 8949 (goes along with Schedule D) check any box A,B,C,D,E,F (it does not matter)
- Form 1040
- Qualified Dividends and Capital Gain Tax WorksheetLine 16 on page 36 of Form 1040 instructions
3. Provide an insightful comment.
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