Capital gain estimated tax payment
[DOC File]Chapter 10
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A cash distribution in excess of basis usually results in a capital gain (in this case $10,750) to each partner. The partners pay tax on $10,750 of capital gain even though the partnership reported no taxable income. This gain can be thought of as a recapture of loss …
[DOC File]come was taxed at the child's rate) and tabulated ...
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If investment companies paid tax on the capital gain, taxpayers were entitled to claim a refundable credit (claimed on Form 2439) for their proportionate share of the tax paid. Credit to 1997 Estimated Tax …
[DOC File]PoliceTax, Kevin Chinnock, Accounting for Law Enforcement ...
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Capital Gain or Losses (Stock Sales): FORM 1099-B. ... PAYMENT RECORDS. 10. MISCELLANEOUS TAX DOCUMENTS. Federal, State & Local Estimated Income Tax Paid for Current Year: ESTIMATED TAX VOUCHERS, CANCELLED CHECKS & OTHER PAYMENT RECORDS. IRA, Keogh and Other Retirement Plan Contributions (If self-employed, identify as for self or employees) ...
[DOCX File]Virginia Society of Tax & Accounting Professionals - Home
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The Smith Corporation realized a long-term capital gain of $10,000, a short-term capital gain of $15,000, and a long-term capital loss of $27,000. What is the amount and character, if any, of carryback or carryforward that the Smith Corporation could utilize? ... file one estimated payment for two-thirds of the tax by January 15, and file and ...
[DOC File]Personal Finance Literacy (Madura/Casey/Roberts)
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D) capital gain. 2) The total amount of money a worker takes home in a pay period is his or her _____. A) gross pay. B) net pay. C) adjusted gross income. D) capital gain. 4) Public programs such as national defense, public schools, Social Security, and fire and police protection are all paid for through _____. A) tax revenue. B) capital gains
[DOC File]Fill in the blanks and compute the yield for the following ...
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Annual first year rents are estimated to be $25 per square foot triple-net. ... You can obtain a constant monthly payment mortgage for 70 percent of the purchase price at 5.75% annual interest with monthly payments for 30 years, a 1% loan origination fee, and a 3% prepayment penalty. ... Capital Gain Tax -1483124 BTCF from Reversion 13761834 ...
[DOC File]Chapter 7: Net Present Value and Capital Budgeting
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Since the old equipment is sold at a price that is greater than its book value, the firm will record a capital gain on the sale, and this sale will be subject to the corporate tax rate. After-Tax Salvage Value = Sale Price – TC(Sale Price – Net Book Value) After-Tax Value of Sale of Old Equipment = $20,000,000 - 0.40($20,000,000-$12,000,000)
[DOC File]Solutions to Chapter 9 Problems
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The DRD is $2,800 ($4,000 x 70%). $44,000 - $4,400 - $2,800 = $36,800 taxable income. (The $10,000 capital gain offsets $10,000 of the capital loss; the other $5,000 of the capital loss cannot be deducted this year, but may be carried back three and then forward five years to offset gains in those years.) b. $5,520 income tax ($36,800 x 15%).
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