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Please provide the steps Question: What is the income tax owed by or refunded to an investor in the 35 percent income tax bracket. The
Please provide the steps
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What is the income tax owed by or refunded to an investor in the 35 percent income tax bracket. The current tax rate is 15 percent tax rate on long-term capital gains and dividend income?
a. | Tristan sold Stock A for a short-term capital loss of $5,250 and sold Stock B for a long-term capital gain of $4,250. |
b. | Isolda sold Stock A for a $2,000 short-term gain and sold Stock B for a $6,000 long-term loss. |
c. | Elsa is 65 years old and withdraws $1,000 from her traditional IRA account. She deposits $1,000 in her Roth IRA. |
d. | Gertrude bought 100 shares of IBM in March 2006 for $100 a share and sold 40 shares in April 2009 for $120. |
e. | Siegmund's traditional IRA is currently worth $25,000. He sold a stock in the account for $2,000. He had purchased the stock for $1,000 in 2004. |
f. | Sieglinde purchased 100 shares of BABY at $15 on September 10, 2010. She sold the shares for $12 on September 15, 2010. She repurchased the shares on September 20, 2010 for $10. |
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