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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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