What is income tax-net investment income tax liability

Assignment Help Financial Management

Reference no: EM131882348

Henrich is a single taxpayer. In 2017, his taxable income is $425,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places. Leave no answer blank. Enter zero if applicable.)

a. All of his income is salary from his employer.

b. His $425,000 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates.

c. His $425,000 of taxable income includes $55,000 of long-term capital gain that is taxed at preferential rates.

d. Henrich has $195,000 of taxable income, which includes $50,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $210,000.

Reference no: EM131882348

Questions Cloud

Responsibilities of being a counselor : What do you think about the responsibilities of being a counselor? Do you still see yourself becoming a counselor?

What is the couple marriage penalty or benefit : In 2017, Lisa and Fred, a married couple, had taxable income of $675,000. What is the couple’s marriage penalty or benefit?

Effective group facilitator qualities : 1. What qualities of effective group facilitators do you have and which would you like to develop?

What are the demographic characteristics : Michelle has asked you to send her a memo that explains the target market for MM's new product. Because a global market is under consideration.

What is income tax-net investment income tax liability : What is his income tax and net investment income tax liability in each of the following alternative scenarios?

Appropriate use of the independent : What are the 3 required assumptions for the appropriate use of the independent grp.T-test

Trey claims a dependency exemption for both of his daughters : Trey claims a dependency exemption for both of his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife.

Discuss the plc concept in brief : You currently work as the marketing manager of your favorite company/organization and manage the success of one of its products or services.

Describe the federal response in regard to hurricane katrina : Describe the local, state, and federal response in regard to Hurricane Katrina. Use specific examples to support your critique.

User Account

All Pages