What is the tax liability for each scenario

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Question - Henrich is a single taxpayer. In 2015, 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.)

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.

What is the tax liability for each scenario?

Reference no: EM132061596

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