Bob katz and sally mander are a married couple

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2.Bob Katz and Sally Mander are a married couple with four children. Total wages for 2013 equaled $96,400. Stock which had been purchased nine months earlier was sold for a $2,000 gain and stock held for three years was sold for a $7,000 gain. Interest income from savings was $100. Itemized deductions totaled $23,500. Bob and Sally qualify for a $1,500 tax credit. What is Bob's and Sally's taxable income? $60,900 $57,100 $51,600 $50,100 3.Sally Mander bought stock for $10,000 in 2011 and sold the stock in 2013 for $14,000. Sally's marginal tax rate is 25%. What is Sally's tax liability on the sale of her stock? $4,000 $1000 $750 $600 4.Barry Cuda and Allie Gator, a married couple, have lived in their home for the past ten years. They purchased the home for $350,000 and just sold it for $620,000. What is the taxable amount of the sale proceeds? $0 $20,000 $270,000 $620,000

Reference no: EM13695394

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