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PP Amount of surtax Respond to the following independent situations: Required: a. Jacob is a single taxpayer who has net investment income consisting of
PP Amount of surtax Respond to the following independent situations: Required: a. Jacob is a single taxpayer who has net investment income consisting of $14,000 interest on a certificate of deposit, $7,000 from dividends from a mutual fund, $7,000 from capital gain distributions from mutual funds, and $39,500 in long-term capital gains from selling some stocks, and a modified AGI of $165,000. b. Jacob is a single taxpayer who has net investment income consisting of $14,000 interest on a certificate of deposit, $7,000 from dividends from a mutual fund, $7,000 from capital gain distributions from mutual funds, and $39,500 in long-term capital gains from selling some stocks, and a modified AGI of $231,000. c. Jacob is a single taxpayer who has net investment income consisting of $34,000 interest on a certificate of deposit, $17,000 from dividends from a mutual fund, $17,000 from capital gain distributions from mutual funds, and $47,000 in long-term capital gains from selling some stocks, and a modified AGI of $315,000. How much in surtax will Jacob be assessed on Form 1040 for 2021?
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