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$2024$ Tax Rate Schedules

Individuals

Schedule X$-$Single

Schedule Y$-1-$Married Filing Jointly or Qualifying surviving spouse

Required information

Problem $8-63($LO $8-1)($LO $8-3)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Henrich is a single taxpayer. In $2024,$ his taxable income is $$537,500.$ What are his

income tax and net investment income tax liability in each of the following

alternative scenarios?:Use Tax Rate Schedule:

Note: Leave no answer blank. Round your final income tax amount to $2$ decimal

places. Round your Net investment income tax to the nearest whole number.

Problem $8-63$ Part c $($Algo$)$

c$.$ His $$537,500$ of taxable income includes $$54,000$ of long$-$term capital gain that is taxed at

preferential rates, and $$8,300$ of deductible state income taxes. Assume his modified AGI $($and AGI $)$ is

$$600,000.$

Answer is complete but not entirely correct.Required information

Problem $8-63($LO $8-1)($LO $8-3)($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Henrich is a single taxpayer. In $2024,$ his taxable income is $$537,500.$ What are his

income tax and net investment income tax liability in each of the following

alternative scenarios? Use Tax Rate Schedule,

Dividends and Capital Gains Tax Rates for reference.

Note: Leave no answer blank. Round your final income tax amount to $2$ decimal

places. Round your Net investment income tax to the nearest whole number.

Problem $8-63$ Part c $($Algo$)$

c$.$ His $$537,500$ of taxable income includes $$54,000$ of long$-$term capital gain that is taxed at

preferential rates, and $$8,300$ of deductible state income taxes. Assume his modified AGI $($and AGI $)$ is

$$600,000.$

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