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Loreen files as a head of household in 2017 and has taxable income of $104,000, including the sale of a stock held as an investment
Loreen files as a head of household in 2017 and has taxable income of $104,000, including the sale of a stock held as an investment for two years at a gain of $24,000. Only one asset was sold during the year Click the icon to view the 2017 tax rate schedule for the Head of Household filing status. (Click the icon to view the capital gain rates for 2017) Read the requirements. Requirement a. What is the amount of Loreen's tax liability? (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.) Loreen's tax liability in 2017 $ Requirement b. What is the amount of Loreen's tax liability if the stock is held for 11 months? (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.) Loreen's tax liability in 2017 if the stock is held for 11 months is $
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