Calculate the 2017 total tax for Gordon Geist, a single taxpayer without dependents and no itemized deductions. He has active income of $44,000, a short-term capital gain income of $3,500 from the sale of stock, and $8,400 from book royalties. What is Gordon's average tax rate? Gordon's total gross income for the 2017 tax year is $. (Round to the nearest cent.)
Calculate the 2017 total tax for Gordon Geist, a single taxpayer without dependents and no itemized deductions. He has active income of $44,000, a short-term capital gain income of $3,500 from the sale of stock, and $8,400 from book royalties. What is Gordon's average tax rate? Gordon's total gross income for the 2017 tax year is $. (Round to the nearest cent.)
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 35P
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Transcribed Image Text:Calculate the 2017 total tax for Gordon Geist, a single taxpayer without dependents and no itemized deductions. He has active income of $44,000, a short-term capital gain income of $3,500 from the sale of stock, and $8,400 from
book royalties. What is Gordon's average tax rate?
Gordon's total gross income for the 2017 tax year is $. (Round to the nearest cent.)
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