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Required c please Mr. and Mrs. Lay's taxable income is $679,000, which includes a $22,030 dividend on their investment in Rexford Mutual Fund. Mr. and
Required c please
Mr. and Mrs. Lay's taxable income is $679,000, which includes a $22,030 dividend on their investment in Rexford Mutual Fund. Mr. and Mrs. Lay's marginal rate on ordinary income is 37 percent, and their entire Rexford dividend is subject to the Medicare contribution tax. Use individual tax rate schedules and Tax rates for capital.qains and gualified dividends Required: 0. Compute the Lays' total tax on this dividend if their Form 1099 from Rexford reported that the entire $22,030 was an ordinary dividend b. Compute the Lays' total tax on this dividend if their Form 1099 from Rexford reported that $17,540 was an ordinary dividend and $4,490 was a capital gain distribution. c. Compute the Lays' total tax on this dividend if theif Form 1099 from Rexford reported that $6,920 was an ordinary dividend, $10,620 was a qualified dividend distribution, and $4,490 was a capital gain distribution Complete this question by entering your answers in the tabs below. Compute the Layn' total tax on this dividend if their form 1099 from Roxford reported that 56,920 was an ordinary dividend, \$10,620 was a qualified dividend distribution, and 54,400 was a capital gain distribution. Wote: Round your intermediae calculations and linal answers to the nosreat whole dollar amount Step by Step Solution
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