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Suppose Jeb's 0/15/20 percent capital gain was 400,000 rather than 95,000. What is Jeb's gross tax liability for the year? With explanations please What if

Suppose Jeb's 0/15/20 percent capital gain was 400,000 rather than 95,000. What is Jeb's gross tax liability for the year?
With explanations please image text in transcribed
What if Let's return to the facts of the previous example where Jeb recognized a $48.000 25 percent net capital gain and a $95,000 0/15/20 percent net capital gain. Also, assume that Jeb's taxable income before considering the net capital gains is $10,000. Jeb's filing status is single. What is Jeb's gross tax liability for the year

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