Reference no: EM13853942

Samuel, a single taxpayer, has provided you with the following tax information for the
2015 tax year:

Salary	$150,000
Any Bank, USA savings interest	1.000
State of Ohio revenue bonds	500
Capital gain on stock held 11 months	4,000
Capital gain on stock held 16 months	9,000
Capital gain on antique furniture held 30 months	5,000
Capital loss on personal automobile held 42 months	(2,500)
Itemized deductions	8,000
Requirements:

a) Compute the taxpayer's taxable income. You must clearly identify (label) each component in order to receive credit.

b) Compute the taxpayer's tax liability. Be sure to provide supporting calculations for your tax determination.

c) Your solution must be typed, but may be formatted using Excel, Word, or PDF. Handwritten solutions will not be graded.

d) Submit your solution as an attachment through the Blackboard link provided.