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What is the total Federal income tax owed by or refunded to an investor in the 35 percent income tax bracket? The current tax rate is 15 percent tax rate on long-term capital gains and dividend income.

    a. January 2011 

       sold Stock A for a short-term capital loss of $5,250

       and sold Stock B for a long-term capital gain of $4,250.

    b. March 2011

       sold Stock A for a $2,000 short-term gain and

       sold Stock B for a $6,000 long-term loss.

    c. June 2011  

       The investor is 65 years old and withdraws $1,000 from

       her traditional IRA account, She deposits $1,000 in her Roth IRA. 

    d. September 2011

       bought 100 shares of IBM in March 2011 for $100 a share

       and sold 40 shares in April 2011 for $120.

    e. December 2011

       A traditional IRA is currently worth $25,000.

       She sold a stock in the account for $2,000. She had

       purchased the stock for $1,000 in December 2010.

    f. December 2011 purchased 100 shares of BABY at $15 on

       September 10, 2011. She sold the shares for $12 on September 15, 2011.

       She repurchased the shares on September 20, 2011 for $10.

 

         ANSWER in the FORMAT  BELOW  or CREATE YOUR OWN

 

Qu

                                Tax liability

a.

 

b.

 

c.

 

d.

 

e.

 

f.

 

Total tax Liability

                                               $_____________

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