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Morgan Grace is in the head of household status. Income $129,350 Gain 6 months $3,200 Gain 2 years $2,060 Loss 2 months $2,580 Loss 2
Morgan Grace is in the head of household status.
Income $129,350
Gain 6 months $3,200
Gain 2 years $2,060
Loss 2 months $2,580
Loss 2 years $800
1. What is the marginal tax bracket ?
2. What is taxable income before capital gain?
3. Calculate the tax liability on the amount before the gain
4. Calculate the tax liability on capital gain?
5. Calculate the total tax liability?
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