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1. Unmarried taxpayer without a dependent has $100,000 of gross income eligible for the capital gain rate and $450,000 of Gross Income not eligible for the capital gain rate. Question 4.a.what is the income tax on the capital gain income (expressed as a $ amount)?4.b.what is the income tax on non-capital gain income (expressed as a $ amount)?4.c.how much income tax was saved by having $100,000 of capital gain income rather than all of the Gross treated as non-capital gain income (expressed as a $ amount)? The applicable tax rates and breakpoints for Single filers are as follows: 10% rate: $0 to $11,000 12% rate: $11,001 to $44,725 22% rate: $44,726 to $95,375 24% rate: $95,376 to $182,100 32% rate: $182,101 to $231,250 35% rate: $231,251 to $578,125 37% rate: Over $578,125 CAPITAL GAINS TAX RATE: 2023 20% Breakpoint15% BreakpointFiling Status $553,850$89,250 MFJ $276,925$44,625 MFS $523,050$59,750 HOH $492,300$44,625 Single $14,650$3,000 Estates & Trusts 12

Problem 5A married filing joint taxpayer has gross income eligible for the capital gains rate of $20,000 and $100,000 of Gross income not eligible for the capital gains rate. Question 5.a.what is the income tax on the capital gain income (expressed as a $ amount)? Question 5.b.what is the income tax on non-capital gain income (expressed as a $ amount)?

Question 5.c.how much income tax was saved by having $20,000 of capital gain income rather than all of the Gross treated as non-capital gain income (expressed as a $ amount)?

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