Monday, November 7, 2011

Question about finances?

Question 5: Angel is in the 28 percent marginal tax bracket for ordinary income. Last year, he bought mutual funds with a net et value of $2,000 on January 15. He sold those shares on December 31 for $2,800. While he owned the shares, the mutual fund company distributed $100 in dividends, $100 in short term capital gains and $100 in long term capital gains to him. How much tax must he pay on all his earnings from owning those mutual fund shares?

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