What is the tax savings from the special tax treatment?, Taxation

If Daniel's marginal tax rate is 35 percent and he has $115,200 of other capital gains (taxed at 15 percent), what is the tax savings from the special tax treatment?

Daniel is considering selling two stocks that have not fared well over recent years. A friend recently informed Daniel that one of his stocks has a special designation, which allows him to treat a loss up to $48,000 on this stock as an ordinary loss rather than the typical capital loss. Daniel figures that he has a loss of $57,600 on each stock. If Daniel's marginal tax rate is 35 percent and he has $115,200 of other capital gains (taxed at 15 percent), what is the tax savings from the special tax treatment?

 

Posted Date: 2/21/2014 12:58:53 AM | Location : United States







Related Discussions:- What is the tax savings from the special tax treatment?, Assignment Help, Ask Question on What is the tax savings from the special tax treatment?, Get Answer, Expert's Help, What is the tax savings from the special tax treatment? Discussions

Write discussion on What is the tax savings from the special tax treatment?
Your posts are moderated
Related Questions
Question 1: Government imposes a specific tax on hotel room.  Use demand and supply analysis to explain the incidence of this tax on the tourist, hotelier, Government as well a

Prepare a Tax Basis Balance Sheet for the partnership on its formation at the beginning of 2012

Ask question #Minimum 100 words Problem 4-42 (LO. 3, 4) Faye, Gary, and Heidi each have a one-third interest in the capital and profits of the FGH Partnership. Each partner had a c

Prepare a 2012 Schedule D, including Form 8949 and Form 4797 based on the data provided. Provide a memo summarizing any assumptions made, if any. You do not need to prepare the tax

interest of late payment tds nature of payment code

Background information Jim set up a limited company; Show the Way Limited (The Company), along with his father in 1983. The company is incorporated in Scotland and has been reg

can you help with tax research assignment

In response to rising obesity, a number of pundits have proposed taxing corn syrup, an ingredient in most soda pop. Let's consider the market for corn syrup assuming this tax take


Given the below information, provide the journal entry to recognize tax expense. Assume taxes are paid immediately (with cash). Note: the statutory rate is assumed to be 40%. As