Compute his taxable income and the tax liability

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Reference no: EM131207929

Asok's AGI for 2015 is $133,050.

Included in this AGI is a $45,000 25% long- term capital gain and a $13,000 0%/15%/20% long-term capital gain.

Asok is single, uses the standard deduction, and has only his personal exemption.

Compute his taxable income, the tax liability, and the tax savings from the alternative tax on net capital gain.

Reference no: EM131207929

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