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Lakshmi is single and provides you with the following tax information for 2012: Salary $200,000 Bank account interest $1,000 Capital gain on an asset (stock)

Lakshmi is single and provides you with the following tax information for 2012:

  1. Salary $200,000 
  2. Bank account interest $1,000 
  3. Capital gain on an asset (stock) held for 11 months 4,000
  4. Capital gain on an asset (stock) held for 16 months 9,000 
  5. Capital gain on an asset (antique doll) held for 30 months 5,000 
  6. Itemized deductions 8,000

Requirement

Compute her tax liability. (Show all calculations in good form) show your work.


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