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"jessica is a single taxpayer. In 2020, she reported $45,000 of taxable income, including $8,000 of...

"jessica is a single taxpayer. In 2020, she reported $45,000 of taxable income, including $8,000 of net long-term capital gain. What amount of her taxable income will be taxed at a 0 percent rate"

$5,000

$0

$8,000

$3,000

$3,125

Solutions

Expert Solution

Answer : Correct Option is $8000

Reason :

Some of net capital Gain will be taxed at 0 percent if taxable income of the person is less 78750.In this case since Taxable income is below limit.Therefore Capital Gain of 8000 will be taxed at 0 percent.

jeff jeffy answered 2 years ago
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