Use the tables to complete the statements, Single Taxpayers: Income Brackets Tax Rate Income Bracket 10% O to 9,525<

Question

Use the tables to complete the statements,
Single Taxpayers: Income Brackets
Tax Rate Income Bracket
10%
O to 9,525
12% 9,526 to 38,700
22% 38,701 to 82,500
24% 82,501 to 157,500
32% 157,501 to 200,000
35% 200,001 to 500,000
37%
> 500,000
Single Taxpayers: Qualified
Dividends and Long-Term
Capital Gains
Tax Rate
Income Bracket
0%
O to 38,600
15% 38,601 to 425,800
20%
> 425,800
If she earned
Rita has a taxable income of $85,000. She sold stock after owning it for six months, resulting in a
$5,000 on the sale of the stock, Rita must pay $ In taxes on the gain,

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Verity 4 years 2021-09-04T17:25:12+00:00 1 Answers 22 views 0

Answers ( )

  1. Neala
    0
    2021-09-04T17:26:57+00:00
    Reply

    Answer:

    Short term Capital gain and $1200

    Step-by-step explanation:

    Any investment held under a year falls under short term capital gain

    5,000 X 0.24 = 1,200

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