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Mark files as a head of household in 2020 and has taxable income of $130,000, including the sale of a stock held as an investment
Mark files as a head of household in 2020 and has taxable income of $130,000, including the sale of a stock held as an investment for two years at a gain of
$26,000. Only one asset was sold during the year and Mark does not have any capital loss carryovers.
a. What is the amount of Mark's tax liability? (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest whole dollar.)
Tax liability in 2020 |
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b. What is the amount of tax liability if the stock is held for 11 months
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