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In 2009, Sashi has a $7000 short-term loss, a $150...

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In 2009, Sashi has a $7000 short-term loss, a $15000 long-term capital gain and $8000 in qualified dividend income. Sashi is single and has other taxable income of $15000. Which of the following statements is correct relating to 2009? a. $23000 of Sashi's taxable income will be taxed at the favorable alternative rate b.$15000 of Sashi's taxable income will be taxed at the favorable alternative rate c. $16000 of Sashi's taxable income will be taxed at the favorable alternative rate d. $8000 of Sashi's taxable income will be taxed at the favorable alternative rate e. $31000 of Sashi's taxable income will be taxed at the favorable alternative rate,Corrine and John are married, with no children, filing a joint return in 2010. They have taxable income of $128700, consisting of their salaries of $144000, a $12,000 long term capital gain from the sale of TXX stock, $3000 of non-qualified dividends and $1000 of qualified dividends; less itemized deductions of $24000 and personal exemptions of $7300. Calculate the tax on their taxable income for 2010.

 

Paper#11208 | Written in 18-Jul-2015

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