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Tina, whose marginal tax rate is 33%, has the following capital gains this year:

STCG $20,000
LTCG (General Electric stock) 40,000
LTCG (qualified small business stock held more than 5 years) 20,000
LTCG (artwork) 10,000

What is the increase in income tax caused by these items ?

 

Accounting Basics, Accounting

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  • Reference No.:- M948266

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