Taxable income, Bill files as head of household in 2014. He

Taxable income

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Reference no: EM13953026

Bill files as head of household in 2014. He had taxable income of $90,000, including the sale of stock he held for investment for two years for a $20,000 gain. Bill sold no other assets during the year, and he did not have any capital loss carryovers.

a. What is Bill’s 2014 tax liability?

b. What would Bill’s 2014 tax liability be if he had held the stock for 10 months?

Reference no: EM13953026

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Taxable income : Bill files as head of household in 2014. He had taxable income of $90,000, including the sale of stock he held for investment for two years for a $20,000 gain

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Taxable income

Reference no: EM13953026

Reference no: EM13953026

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