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Lincoln and Jasmine are married and file a joint return for 2021. They have $76,000 of wages and $3.380 of dividend income for the year.
Lincoln and Jasmine are married and file a joint return for 2021. They have $76,000 of wages and $3.380 of dividend income for the year. They use the Standard Deduction of $25.100 so their Taxable Income is $54,280. $2.060 of their dividends are Qualified Dividends. What is their income tax for the year? $6.274 O $5,710 O $5,806 $5,868 O $6,116 Camden and Alexis are married a file a joint return for 2021. They purchased a car for their own personal use in 2017 for $24,200. They sold the car in 2021 for $10,600. What are the tax consequences of this sale? O They may deduct up to $3,000 of this loss. They must recognize a capital gain of $10,600. O They may deduct a $13,600 capital loss as long as they have at least $13,600 of capital gains for the year. O This is a non-deductible capital loss. O They may recognize a $13,600 capital loss
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