a. Respond to the following: In 2023, how are qualified dividends taxed? Qualified dividends are taxed at either 0%, 15%, or 20% ✓ depending on income and filing status. b. Complete the following paragraph that outlines the tax rates and application for qualifying dividends. • A single taxpayer with taxable income of $ 36,600 X • If that same single taxpayer's taxable income was over $ . And if that taxpayer made over $425,800 X of taxable income, the capital gains rate would be 20% EX. In addition, certain high-income taxpayers may also need to pay an additional 3.8% or below would have capital gains taxed at a rate of 0%. 36,600 X and up to $ 425,800 X, the capital gains rate would be 15% ✔Medicare tax on their net investment income ✓ -X

Based on 2022 Tax Table, federal tax payable before tax credit of a person whose net income of $221,708 is

Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2023, his taxable income is $533,500. 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: Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable. Round your final answers to 2 decimal places. d. Henrich has $196,750 of taxable income, which includes $50,700 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $213,500. Income tax Net investment income tax Total tax liability Amount $ 0.00

! Required information Problem 7-45 (LO 7-2) (Algo) [The following information applies to the questions displayed below.] Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $69,600. Meg works part time at the same university. She earns $33,800 a year. The couple does not itemize deductions. Other than salary, the Comers' only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) Note: Round your final answers to the nearest whole dollar amount. Problem 7-45 Part-a (Algo) a. What is the Comers' tax liability for 2022 if they report the following capital gains and losses for the year? $ 9,800 (2,400) Short-term capital gains Short-term capital losses Long-term capital gains Long-term capital losses 15,800 (6,400) Total tax liability

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A taxpayer employs a qualified PWD for a total salary of P50,000. Assuming taxpayer meets all requirements, how much may he claim as special deduction from gross income? a. 50,000 b. 12,500 c. 10,000 d. 7,500

4 Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2023, his taxable income is $531,500. 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: Do not round intermediate calculations. Leave no answer blank. Enter zero if applicable. Round your final answers to 2 decimal places. b. His $531,500 of taxable income includes $2,000 of long-term capital gain that is taxed at preferential rates. Assume his modified AGI is $570,000. Income tax Net investment income tax Total tax liability Amount

In 2023, a taxpayer who paid $16,500 of self-employment tax would deduct $ deduction. of the tax as a (for/from) I AGI

Determine from the tax table the amount of the income tax for each of the following taxpayers for 2020: Taxpayer(s) Filing Status Taxable Income   Income Tax Allen Single $ 30,000   $______________________ Boyd MFS 34,545   $______________________ Caldwell MFJ 55,784   $______________________ Dell H of H 67,450   $______________________ Evans Single 75,000   $______________________

! Required information [The following information applies to the questions displayed below.] Henrich is a single taxpayer. In 2019, his taxable income is $461,00O. What is 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, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank. Enter zero if applicable.) a. All of his income is salary from his employer. Income tax Net investment income tax Total tax liability