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46. Jane and Blair are married taxpayers filing jointly and have 2015 taxable income of $97,000. The taxable income includes $5,000 of gain from a capital asset held five years, $2,100 of gain from a
46. Jane and Blair are married taxpayers filing jointly and have 2015 taxable income of $97,000. The taxable income includes $5,000 of
gain from a capital asset held five years, $2,100 of gain from a capital asset held seven months, and$13,000 of gain from a capital asset
held four years. All of the capital assets were stock in publicly traded corporations. Jane and Blair also have qualified dividend income of
$3,000. What is the couple’s tax on taxable income?
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** **** *** ***** *** ******* taxpayers ****** ******* *** **** **** taxable ****** of ****** The ******* income ******** $5000 ** gain from a ******* ***** **** five ***** $2100 ** **** **** * capital asset **** ***** ****** and$13000 ** **** **** a ******* ***** **** four ***** *** ** *** ******* ****** **** stock in publicly traded ************ Jane *** ***** also **** ********* ******** ****** ** ***** **** is the ********** *** ** ******* income? Solution:Janeand ************************************************************************************************************ ************************************* ******************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************* ******************************************************* 3150Totaltaxusingthealternativetaxcalculation $14513Regulartaxon$97000TI ********************************************** *******
