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What is the couple tax on taxable income

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Reference no: EM133143634

Question - Jane and Blair are married taxpayers filing jointly and have 2020 taxable income of $107,000. The taxable income includes $5,000 of gain from a capital asset held five years, $2,100 of gain from a capital asset held seven months, and $13.000 of gain from a capital asset held four years. All of the capital assets were stock in publicly traded corporations. Jane and Blair also have qualified dividend income of $3,000. What is the couple's tax on taxable income and the related tax savings from the alternative tax computation (if any)?

Reference no: EM133143634

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