Business, 26.06.2019 16:20 stalley1521

In november 2018, ben and betty (married, filing jointly) have a long-term capital gain of $54,000 on the sale of stock. they have no other capital gains and losses for the year. their ordinary income for the year after the standard deduction is $72,500, making their total taxable income for the year $126,500 ($72,500 + $54,000). what will be their 2018 total tax liability assuming a tax of $8,322 on the $72,500 of ordinary income? the tax rates on long-term capital gains are as follows: income level long-term capital gains rates married filing jointly $0–$77,200 0% $77,201–$479,000 15% > $479,000 20% a.$15,717 b.$8,322 c.$19,712 d.$16,422

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In november 2018, ben and betty (married, filing jointly) have a long-term capital gain of $54,000 o...

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