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Mr. and Mrs. Dunbar have taxable income of $190,000 without considering the following sales. COnsider the following independent cases where capital gains are recognized and
Mr. and Mrs. Dunbar have taxable income of $190,000 without considering the following sales. COnsider the following independent cases where capital gains are recognized and determine the marginal tax rate for the capital gain in each case. Ignore the effect of increasing AGI on deductions. CASE A: $10,000 gain from sale of Storm Lake common stock held for seven months CASE B: $10,000 gain from sale on antique clock held for six years CASE C: $10,000 gain from sale of Ames preferred stock held for 3 years
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