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Please Help Me Correct Assignment. Lorelai's father, Richard, is the Vice President at Gurmon & Driscoll Insurance Corp. He had the following salary and investment
Please Help Me Correct Assignment.
Lorelai's father, Richard, is the Vice President at Gurmon & Driscoll Insurance Corp. He had the following salary and investment activities over :
g Salary $ and withholding $
h Interest income from corporate bonds of $ and state municipal bonds of $
i In March Richard bought shares of Super Micro Computer, Inc. $ per share In August he purchased more shares $ per share In November he sold shares $ per share He wants to use whichever allowable method to compute basis that will minimize the taxable gain in
j In July Richard purchased shares of Minim Inc $ per share Since then the company has continued to decline in share value. In September he decided to cut his losses and sell all shares $ per share
k Richard is invested in a Real Estate Investment Trust REIT which paid out $ in nonqualified dividend income.
l Richard's investment in The Procter & Gamble Company paid out $ in qualified dividends this year.
m Over the year Richard and Emily had qualified itemized deductions of $including $ deductible mortgage interest; $ deductible total taxes; and $ deductible contributions to charitable orgs
Please compute Richard's income tax due or tax refund on his tax income workpaper tab. You can assume that he files MFJ with his wife, Emily, and that she has no additional income for the year.
Make sure you fill all highlighted cells.
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