What is the total Federal income tax owed by or refunded to an investor in the 35 percent income tax bracket? The current tax rate is 15 percent tax rate on long-term capital gains and dividend income.
a. January 2011
sold Stock A for a short-term capital loss of $5,250
and sold Stock B for a long-term capital gain of $4,250.
b. March 2011
sold Stock A for a $2,000 short-term gain and
sold Stock B for a $6,000 long-term loss.
c. June 2011
The investor is 65 years old and withdraws $1,000 from
her traditional IRA account, She deposits $1,000 in her Roth IRA.
d. September 2011
bought 100 shares of IBM in March 2011 for $100 a share
and sold 40 shares in April 2011 for $120.
e. December 2011
A traditional IRA is currently worth $25,000.
She sold a stock in the account for $2,000. She had
purchased the stock for $1,000 in December 2010.
f. December 2011 purchased 100 shares of BABY at $15 on
September 10, 2011. She sold the shares for $12 on September 15, 2011.
She repurchased the shares on September 20, 2011 for $10.
ANSWER in the FORMAT BELOW or CREATE YOUR OWN
Total tax Liability