Sri owns shares in a Canadian Corporation that paid him $1493 in dividends in 2020. In addition, he sold his holdings for $141418. Assuming the ACB for that purchase was $65189 and Sri's marginal tax rate is 48%, how much tax does Sri owe? Please provide your answer to 2 decimal places (e.g. 1234.56)
Sri owns shares in a Canadian Corporation that paid him $1493 in dividends in 2020. In addition, he sold his holdings for $141418. Assuming the ACB for that purchase was $65189 and Sri's marginal tax rate is 48%, how much tax does Sri owe? Please provide your answer to 2 decimal places (e.g. 1234.56)
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter15: S Corporations
Section: Chapter Questions
Problem 29P
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Sri owns shares in a Canadian Corporation that paid him $1493 in dividends in 2020. In addition, he sold his holdings for $141418. Assuming the ACB for that purchase was $65189 and Sri's marginal tax rate is 48%, how much tax does Sri owe?
Please provide your answer to 2 decimal places (e.g. 1234.56)
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