Net investment income consisting

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Reference no: EM131909185

Respond to the following independent situations:

Jacob is a single taxpayer who has net investment income consisting of $10,500 interest on a certificate of deposit, $5,250 from dividends from a mutual fund, $5,250 from capital gain distributions from mutual funds, and $29,000 in long-term capital gains from selling some stocks, and his MAGI is $130,000.

Jacob is a single taxpayer who has net investment income consisting of $25,500 interest on a certificate of deposit, $13,000 from dividends from a mutual fund, $13,000 from capital gain distributions from mutual funds, and $43,500 in long-term capital gains from selling some stocks, and his MAGI is $295,000.

Reference no: EM131909185

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