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Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2021, his taxable income is $452,500. What is
Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2021, his taxable income is $452,500. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. (Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable. Round your final answers to 2 decimal places.) d. Henrich has $196,250 of taxable income, which includes $50,500 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $210,000. Amount Income tax Net investment income tax Total tax liability Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0% SO - $80,800 $0-$40,400 $0 - $40,400 $0 - $54.100 $0-$2,700 15% $80.801 - $501,600 $40.401 - $250.800 $40,401 - $445,850 $54.101 - $473,750 $2,701 - $13,250 20% $501,601+ $250,801+ $445,851+ S473,751+ $13,251+ *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). 2021 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $9.950 10% of taxable income $ 9,950 $ 40,525 $995 plus 12% of the excess over $9.950 $ 40,525 S 86,375 54.664 plus 22% of the excess over $40,525 $ 86,375 S 164.925 $14.751 plus 24% of the excess over $86,375 $ 164,925 S 209.425 $33.603 plus 32% of the excess over $164.925 $ 209,425 S 523,600 S47,843 plus 35% of the excess over $209,425 $ 523,600 $157.804.25 plus 37% of the excess over $523.600
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