The Johnsons file a married, joint return. They had taxable income of $170,000 in 2020. Their...

The Johnsons file a married, joint return. They had taxable income of $170,000 in 2020. Their city tax rate is 3.876% and state tax rate is 6.21%. What was their total effective (marginal) tax rate? Assume they had $10,000 in short-term capital gains and $12,000 in long-term taxable gains. How much are their total taxes?

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ekkarill92 answered 2 years ago

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