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Without considering the following capital gains and losses, Celia, who is single, has taxable income of $650,000 and a marginal tax rate of 37%. During the year, she sold stock held for nine months at a gain of $12,000; stock held for three years at a gain of $17,000; and a collectible asset held for six years at a gain of $23,000. Ignore the effect of the gains on any threshold amounts. (Click the icon to view the Preferential Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends.) Read the fequirements. Requirement a. What is her taxable income and the increase in her income tax liability after considering the three gains? Her taxable income is What is the increase in her income tax liability after considering the three gains? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category.) Category Taxable amount Rate Tax Increase in tax liability Requirement b. In addition to the above three sales, assume that she sells another asset and has a STCL of $15,000. What is her taxable income and the increase in her tax liability after considering the four transactions? Her taxable income is What is the increase in her tax liability after considering the four transactions? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category. If an input field is not used in the table leave the input field(s) empty; do not select a label or enter a zero.) Category Taxable amount Rate Tax Que Increase in tax liability Requirement c. In addition to the above three sales in Part a, assume that she sells another collectible asset held seven years as an investment and has a $28,000 capital loss. What is her taxable income and the increase in her tax liability after considering the four transactions? Her taxable income is What is the increase in her tax liability after considering the four transactions? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category. If an input field is not used in the table leave the input field(s) empty; do not select a label or enter a zero.) Category Taxable amount Rate Tax Ques Increase in tax liability Requirement d. Determine her Medicare tax on net investment income in (a) if all of the $650,000 of taxable income is due to salary. In this scenario, Celia's Medicare tax on net investment income is i Requirements X a. b. C. What is her taxable income and the increase in her income tax liability after considering the three gains? In addition to the above three sales, assume that she sells another asset and has a STCL of $15,000. What is her taxable income and the increase in her tax liability after considering the four transactions? In addition to the above three sales in Part a, assume that she sells another collectible asset held seven years as an investment and has a $28,000 capital loss. What is her taxable income and the increase in her tax liability after considering the four transactions? Determine her Medicare tax on net investment income in (a) if all of the $650,000 of taxable income is due to salary. d. Print Done Without considering the following capital gains and losses, Celia, who is single, has taxable income of $650,000 and a marginal tax rate of 37%. During the year, she sold stock held for nine months at a gain of $12,000; stock held for three years at a gain of $17,000; and a collectible asset held for six years at a gain of $23,000. Ignore the effect of the gains on any threshold amounts. (Click the icon to view the Preferential Rates for Adjusted Net Capital Gain (ANCG) and Qualified Dividends.) Read the fequirements. Requirement a. What is her taxable income and the increase in her income tax liability after considering the three gains? Her taxable income is What is the increase in her income tax liability after considering the three gains? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category.) Category Taxable amount Rate Tax Increase in tax liability Requirement b. In addition to the above three sales, assume that she sells another asset and has a STCL of $15,000. What is her taxable income and the increase in her tax liability after considering the four transactions? Her taxable income is What is the increase in her tax liability after considering the four transactions? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category. If an input field is not used in the table leave the input field(s) empty; do not select a label or enter a zero.) Category Taxable amount Rate Tax Que Increase in tax liability Requirement c. In addition to the above three sales in Part a, assume that she sells another collectible asset held seven years as an investment and has a $28,000 capital loss. What is her taxable income and the increase in her tax liability after considering the four transactions? Her taxable income is What is the increase in her tax liability after considering the four transactions? First select the label for the applicable category of gains, then enter the taxable amount. In the last column compute the tax for each category and the increase in tax liability. (Abbreviations used: ANCG = Adjusted net capital gains, LTCG = Long-term capital gain, LTCL = Long-term capital loss, STCG = Short-term capital gain, STCL = Short-term capital loss. Enter the net taxable amount for each category. If an input field is not used in the table leave the input field(s) empty; do not select a label or enter a zero.) Category Taxable amount Rate Tax Ques Increase in tax liability Requirement d. Determine her Medicare tax on net investment income in (a) if all of the $650,000 of taxable income is due to salary. In this scenario, Celia's Medicare tax on net investment income is i Requirements X a. b. C. What is her taxable income and the increase in her income tax liability after considering the three gains? In addition to the above three sales, assume that she sells another asset and has a STCL of $15,000. What is her taxable income and the increase in her tax liability after considering the four transactions? In addition to the above three sales in Part a, assume that she sells another collectible asset held seven years as an investment and has a $28,000 capital loss. What is her taxable income and the increase in her tax liability after considering the four transactions? Determine her Medicare tax on net investment income in (a) if all of the $650,000 of taxable income is due to salary. d. Print Done

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