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asambeis [7]
3 years ago
11

Carrie and Michael are married and will file a joint return. In addition to income from wages, they have a $5,000 long-term capi

tal gain from the sale of stock. Their 2019 taxable income is $121,500. Their capital gain will be taxed at a rate of:
Business
1 answer:
Elena L [17]3 years ago
6 0

Answer: 15%

Explanation:

From the question, we are informed that Carrie and Michael are married and will file a joint return and that they have a $5,000 long-term capital gain from the sale of stock. We are further told that their 2019 taxable income is $121,500.

Based on the above scenario, their capital gain will be taxed at a rate of 15%. This is due to the fact that when filing their status, they will be regarded as married and the applicable rate is 15% for an income that is between $78,751 and $488,850. Since they've $121,500 their rate will be 15%.

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5 0
2 years ago
On November 1, Jasper Company loaned another company $270,000 at a 8.0% interest rate. The note receivable plus interest will no
Lostsunrise [7]

Answer:

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Explanation:

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3 0
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8 0
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