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slega [8]
2 years ago
13

Jamie is single. In 2021, she reported $104,000 of taxable income, including a long-term capital gain of $5,400. What is her gro

ss tax liability
Business
1 answer:
Vikentia [17]2 years ago
8 0

For a $104,000 of taxable income, including a long-term capital gain of $5,400, her gross tax liability  is mathematically given as

T=$17479

<h3>What is her gross tax liability?</h3>

Generally, the $95000 will be charged with an ordinary tax rate

Capital gain of $5000  will be charged by 12% rate.

Therefore, Tax on $95000

Tx = 14605.50+ 24%*(95000 - 85526)

Tx= $16879.26

ForCapital gain

Cx= 12%*5000

Cx= $600

In conclusion, her gross tax liability

T= 16879.26 + 600

T=$17479

Read more about Arithmetic

brainly.com/question/22568180

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Was Justice Antonin Scalia a conservative or liberal?
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