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Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2019, his taxable income is $462,500. What is
Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2019, his taxable income is $462,500. 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, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank. Enter zero if applicable.) c. His $462,500 of taxable income includes $64,000 of long-term capital gain that is taxed at preferential rates. Note: some of his preferentially taxed income will be in the 15% bracket and some in the 20% bracket. Income tax Net investment income tax Total tax liability $ 0.00 d. Henrich has $201,250 of taxable income, which includes $52,500 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $210,000. Income tax Net investment income tax Total tax liability $ 0.00
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