Question

Anyone want to help me out?

Answer 1

@amistre64

Answer 2

thats alot to read and dissect

Answer 3

I know

Answer 4

if im parsing it correctly, there are 3 amounts of income to work out

dividend of 515 @ 0 , since not in top 4 brackets
municipal bond of 65 @ 0 , since its a municpal bond
stock gains (held less than a year) (915-200) (.15)

515(0) + 65(0) + (915-200)(.15)

715(.15)

maybe

Answer 5

ok so do you want me to find those 3 amounts??

Answer 6

well, anything at 0 is zero ... so it really amounts to the last portion

Answer 7

ok im so confused

Answer 8

Eric is in the 2nd tax bracket (15% tax) ...

the table tell us that: stock dividend tax is 0 if in the bottom 2 tax brackets ... he is

the table tell us that: municipal bond tax is 0 ...

the table tell us that: gains from stocks tax is "ordinary" if held for less than a year (6 months is less than a year)

Answer 9

ok

Answer 10

since he gained $715 by selling the stock, that is taxed at 15%

Answer 11

ok

Answer 12

so now what

Answer 13

@amistre64

Answer 14

I read over what you wrote you helped a lot!!