How much do you owe on the sale of the stock

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Reference no: EM131513301

Joe Ji is married to Joy Ji. Together you made $160,000 in 2015. Your AGI was $150,000. Joe bought 100 shares of Ohio stock on May 1, 2012 for $2,000. Joe sold that stock on May 1, 2015 for $6,000. You and Joy’s taxable income for 2015 is $95,000. This puts you in the 28% marginal tax bracket. How much do you owe on the sale of the stock?

Reference no: EM131513301

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