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Alexeev081 [22]
3 years ago
10

Mr. Imhoff recognized a $25,700 net long-term capital gain and a $33,000 net short-term capital loss this year. What is his curr

ent year tax savings from the capital loss if his marginal rate on ordinary income is 35% and his preferential rate on adjusted net capital gain is 20%?
Business
1 answer:
inn [45]3 years ago
5 0

Answer:

$0

Explanation:

The computation of the current year tax saving from the capital loss is as follows:

= (Long term capital gain - short term capital loss) × difference in the tax rate

= ($25,700 - $33,000) × 0.15

= -$7,300 × 0.15

As there is no current year saving since the net short term capital loss is more than the long term capital gain

So the saving would be zero

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<u>a. True.</u>

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4 years ago
"Pick an organization within the airline industry that you are familiar with or interested in learning about. Identify an exampl
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4 years ago
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3 years ago
A process with no beginning work in process, completed and transferred out 28,000 units during a period and had 14,000 units in
leonid [27]

Answer:

35,000 equivalent units

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