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How much in surtax will Jacob be assessed

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Question - Respond to the following independent situations:

1. Jacob is a single taxpayer who has net investment income consisting of $13,500 interest on a certificate of deposit, $6,750 from dividends from a mutual fund, $6,750 from capital gain distributions from mutual funds, and $38,000 in long-term capital gains from selling some stocks, and his modified AGI is $160,000.

2. Jacob is a single taxpayer who has net investment income consisting of $13,500 interest on a certificate of deposit, $6,750 from dividends from a mutual fund, $6,750 from capital gain distributions from mutual funds, and $38,000 in long-term capital gains from selling some stocks, and his modified AGI is $229,000.

3. Jacob is a single taxpayer who has net investment income consisting of $33,000 interest on a certificate of deposit, $16,500 from dividends from a mutual fund, $16,500 from capital gain distributions from mutual funds, and $46,500 in long-term capital gains from selling some stocks, and his modified AGI is $312,500.

Required - How much in surtax will Jacob be assessed on his Form 1040 for 2018?

Reference no: EM132987671

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