Capital gains. Nanouk files as head-of-household. In 2023, she earned a salary of $116, 150. She also realized a gain of $40,000 on the sale of a capital asset that she had held for eight years. She had no other income or transactions. She had no "for AGI" deductions and took the standard deduction ($20,800). How much is her income tax liability for 2023?
Capital gains. Nanouk files as head-of-household. In 2023, she earned a salary of $116, 150. She also realized a gain of $40,000 on the sale of a capital asset that she had held for eight years. She had no other income or transactions. She had no "for AGI" deductions and took the standard deduction ($20,800). How much is her income tax liability for 2023?
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 36P
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Transcribed Image Text:Capital gains. Nanouk files as head of household. In 2023, she earned a salary of $116, 150. She also realized a gain of $40,000 on the sale of a capital asset that she had held for eight years. She
had no other income or transactions. She had no "for AGI" deductions and took the standard deduction ($20, 800). How much is her income tax liability for 2023?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT