Question
Nick, age 49, is single with no dependents and claims the standard deudction. his salary for 2019 was $100,000, from which his employer withheld $15,000
Nick, age 49, is single with no dependents and claims the standard deudction. his salary for 2019 was $100,000, from which his employer withheld $15,000 of federal income tax. he received dividends in the amount of $5000. He sold 100 shares of stock on October 5, 2019 for $8000. He received the 100 shares from his father as a gift on March 2, 2017, when the fair market value of the 100 shares was $19,000. His father purchase the shares on Aprill 22, 2015 for $17,000.
What is the amount of tax due, or refund to be received, on Nick's 2019 federal income tax return?
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