What is tax liability with adjusted net capital gain

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Reference no: EM131320481

Wayne is single and has no dependents, without considering his $11,000 adjusted net capital gain, his taxable income, which inculdes no investement income in 2016 is as follows:

AGI: 259,400

Home Mortage Interest: 22,100

State and local income taxes: 8,000

Charitable Contributions: 7,000

Personal Exemption: 4,050 Total: 41,150

Taxable Income : 218,250

What is Wanye's tax liability with Adjusted Net Capital Gain?

Reference no: EM131320481

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