In 2017, Gregory, a single person, had $375,000 of ordinary taxable income. He sold Section 1202 stock

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In 2017, Gregory, a single person, had $375,000 of ordinary taxable income. He sold Section 1202 stock at a taxable gain of $45,000, his art collection at a taxable gain of $102,000, and stock at a taxable gain of $55,000. Compare the tax result if Congress would simplify the capital gains tax provisions by having a single 20 percent capital gains rate versus the current capital gains tax provisions now in effect for 2017.

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Taxation For Decision Makers 2018

ISBN: 9781119373735

8th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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