Alex is a single taxpayer with $80,000 in taxable income. His investment income consists of $500 of qualified dividends and short-term capital gains of $2,000. Use the tables to complete the statement. Single Taxpayers: Income Brackets Tax Rate Income Bracket 10% 0 to 9,525 12% 9,526 to 38,700 22% 38,701 to 82,500 24% 82,501 to 157,500 32% 157,501 to 200,000 35% 200,001 to 500,000 37% > 500,000 Single Taxpayers: Qualified Dividends and Long-Term Capital Gains Tax Rate Income Bracket 0% 0 to 38,600 15% 38,601 to 425,800 20% > 425,800 Alex will owe $ in taxes on his investment income.

Alex's income in the 22% tax bracket, would cause his short-term capital gains to be taxed at the same pecentage as his income. His qualified dividends would be taxed at 15% because his tax rate income falls between 38,601 and 425,800, which falls under the 15%. So then you would just have to take 15% of 500 and 22% of 2000 and then add them together. 15%of 500 is 75 and 22% of 2000 is 440. Those added together is 515.

shivishivangi1679 shivishivangi1679 · Answer 2 · 2022-05-25T08:00:56+02:00

Alex's income in the 22% tax bracket, would cause his short-term capital gains to be taxed at the same percentage as his income.

What is short-term capital?

Gain earned by selling assets that are held for a year or less are called short-term capital gains.

Alex is a single taxpayer with $80,000 in taxable income. His investment income consists of $500 of qualified dividends and short-term capital gains of $2,000.

His qualified dividends would be taxed at 15% because his tax rate income falls between 38,601 and 425,800, which falls under 15%.

So we have to take 15% of 500 and 22% of 2000 and then add them together.

15% x 500

= 15 x 5

= 75

22% x 2000

= 22 x 20

= 440.

The total is 515.

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