Answers
Income from Salary | $ 139,000.00 |
Dividend Income | $ 14,000.00 |
Interest Income Home Depot Bonds | $ 3,500.00 |
Short term captial gain from sale of shares disney | $ 4,400.00 |
Long term captial gain from sale of shares google | $ 14,600.00 |
Gross Taxable Income | $ 175,500.00 |
Less Exemption | $ 4,000.00 |
Less Deduction | $ 7,500.00 |
Net Taxable Income | $ 164,000.00 |
Long Term Capital Gain tax @ 15 % | $ 2,190.00 |
Taxable Income excludind LTCG | $ 149,400.00 |
Tax as per federal rates and table on 149400 | $ 34,903.00 |
Total Tax Liablty ( 34903+2190) | $ 37,093.00 |
Marginal Tax Rate | 28.00% |
Average tax Rate | 21.14% |
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