Im stuck Ron and Madeleine Couple received their 2019 Form 1099-DIV (dividends received) in the amount of $1,585. Ron and Madeleine are inthe 28% bracket.What would be their tax liability on the dividends received? (Round your answer to the nearest cent.)Tax liability

Ron and Madeleine Couple received their 2019 Form 1099-DIV (dividends received) in the amount of $1,585. Ron and Madeleine are in he 28% bracket. What would be their tax liability on the dividends received? (Round your answer to the nearest cent.) Tax liability

Ron and Madeleine Couple received their 2019 Form 1099-DIV (dividends received) in the amount of $1,585. Ron and Madeleine are in he 28% bracket. What would be their tax liability on the dividends received? (Round your answer to the nearest cent.) Tax liability

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter8: Taxation Of Individuals

Section: Chapter Questions

Problem 35P

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Question

Im stuck

Ron and Madeleine Couple received their 2019 Form 1099-DIV (dividends received) in the amount of $1,585. Ron and Madeleine are in
the 28% bracket.
What would be their tax liability on the dividends received? (Round your answer to the nearest cent.)
Tax liability

Expert Solution

Step 1

Given that ,

Dividends Received = $1,585

Tax bracket rate = 28%

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