You are in the 33% marginal tax rate. The stock you purchased atthe beginning of the year has increased in value by $27,000.
a. If you sell the stock today, your capital gain will beclassified as short-term. At what rate would you be taxed, and whatwould be your tax liability?
Tax rate %
Tax liability$8910
b. If you waited a month, your capital gain would be classifiedas long-term. At what rate would you be taxed, and what would beyour tax liability given this scenario?
Tax rate %
Tax liability $
c. You earned a salary of $179,000, had interest income of $600,and dividend income of $600, and you experienced the short-termcapital gain described in 4(a). What is your gross income?
Gross income $
d. You made a traditional IRA contribution of $2,000 and paid$500 in student loan interest. What is your adjusted gross income(AGI) based on the gross income described in 4(c)?
AGI $
