What is the couples tax on taxable income


Jane and Blair are married, filing jointly and have 2012 taxable income of $97,000. The taxable income includes $5,000 of gain from a capital asset held for five years, $2,100 of gain from a capital asset held seven months, and $13,000 of gain from a capital asset held four years. All of the capital assets were stock in a publicly traded corporations. Jane and Blair also have qualified dividend income of $3,000. What is the couple's tax on taxable income.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the couples tax on taxable income
Reference No:- TGS0721000

Expected delivery within 24 Hours