During 2019, Addison, a single taxpayer, has the following gains and losses: $$\begin{array} { l r }
\text { LTCG } & \$ 10,000 \
\text { LTCL } & 3,000 \
\text { STCG } & 2,000 \
\text { STCL } & 7,000
\end{array}$$
a. How much is Addison's tax liability if she has taxable income of $24,000 and is in the 12% tax bracket?
b. How much is her tax liability if her taxable income is $188,000 and her tax bracket is 32% (not 12%)?

Question

During 2019, Addison, a single taxpayer, has the following gains and losses: $$\begin{array} { l r } 
\text { LTCG } & \$ 10,000 \
\text { LTCL } & 3,000 \
\text { STCG } & 2,000 \
\text { STCL } & 7,000
\end{array}$$ 
a. How much is Addison's tax liability if she has taxable income of $24,000 and is in the 12% tax bracket?
b. How much is her tax liability if her taxable income is $188,000 and her tax bracket is 32% (not 12%)?

Quizplus · Accepted Answer

The Answer of During 2019, Addison, a single taxpayer, has the following gains and losses: $$\begin{array} { l r } 
\text { LTCG } & \$ 10,000 \
\text { LTCL } & 3,000 \
\text { STCG } & 2,000 \
\text { STCL } & 7,000
\end{array}$$ 
a. How much is Addison's tax liability if she has taxable income of $24,000 and is in the 12% tax bracket?
b. How much is her tax liability if her taxable income is $188,000 and her tax bracket is 32% (not 12%)?

During 2019, Addison, a Single Taxpayer, Has the Following Gains LTCG $10,000 LTCL 3,000 STCG 2,000 STCL 7,000\begin{array} { l r } \text { LTCG } & \$ 10,000 \\\text { LTCL } & 3,000 \\\text { STCG } & 2,000 \\\text { STCL } & 7,000\end{array} LTCG LTCL STCG STCL ​$10,0003,0002,0007,000​

During 2019, Addison, a Single Taxpayer, Has the Following Gains $\begin{array} { l r } \text { LTCG } & \$ 10,000 \\\text { LTCL } & 3,000 \\\text { STCG } & 2,000 \\\text { STCL } & 7,000\end{array}$