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What if Let's return to the facts of the previous example where Jeb recognized a $48.000 25 percent net capital gain and a $95,000 0/15/20 percent net capital gain. Also, assume that Jeb's taxable income before considering the net capital gains is $10,000. Jeb's filing status is single. What is Jeb's gross tax liability for the year?

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Accounting Basics, Accounting

Category:- Accounting Basics
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