During the year, Alva received dividends on her stocks as follows. If an amount is zero, enter "0". a. Alva purchased t
Posted: Wed Jul 06, 2022 6:26 am
During the year, Alva received dividends on her stocks asfollows.
If an amount is zero, enter "0".
a. Alva purchased the Grape stock threeyears ago, and she purchased the Amur stock two years ago. Shepurchased the Blaze stock 18 days before it went ex-dividend andsold it 20 days later at a $5,000 loss. Alva reported no othercapital gains and losses for the year. She is in the 32% marginaltax bracket and applicable qualifying dividend rate is 15%.
The amount of her tax on qualifying dividendsis $_______.
The amount of her taxon nonqualifying dividends is $_______.
The total tax on all her dividend income is $_______.
b. Alva's daughter, Veda, who is age 25and who is not Alva's dependent, reported taxable income of $6,000,which included $1,000 of dividends on Grape stock. Veda purchasedthe stock two years ago.
Veda’s tax liability on the dividends is $________.
If an amount is zero, enter "0".
a. Alva purchased the Grape stock threeyears ago, and she purchased the Amur stock two years ago. Shepurchased the Blaze stock 18 days before it went ex-dividend andsold it 20 days later at a $5,000 loss. Alva reported no othercapital gains and losses for the year. She is in the 32% marginaltax bracket and applicable qualifying dividend rate is 15%.
The amount of her tax on qualifying dividendsis $_______.
The amount of her taxon nonqualifying dividends is $_______.
The total tax on all her dividend income is $_______.
b. Alva's daughter, Veda, who is age 25and who is not Alva's dependent, reported taxable income of $6,000,which included $1,000 of dividends on Grape stock. Veda purchasedthe stock two years ago.
Veda’s tax liability on the dividends is $________.