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Please answer question 15, thank you! Catalina reported her taxable income for 202 was $150,000. This figure iNCLUDED the following transactions: 1. In July 20X2,
Please answer question 15, thank you!
Catalina reported her taxable income for 202 was $150,000. This figure iNCLUDED the following transactions: 1. In July 20X2, she sold 100 shares of Tyron stock for $40 per share. She had purchased these shared 3 months earlier for $35 per share. 2. In October 20X2, Cynthia sold 200 shares of Mystem stock for $79 per share. She had purchased these shares three years carlier for $59 per share. Cymthia had no dividend income in 202. No dellar signs in your answer. Use commas for the thousands. Determine her tax liability for 20x2 [A] Assume all long-term capital gains are taxed at 15% and alf ordinary income is taxed at 25% HINT; to calculate the answer, remember the difference between ordinary income and capital gains income Step by Step Solution
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