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Ms. Shaver, a single taxpayer, has $213,000 taxable income, which includes a $19,580 qualified dividend from Benbow Inc. Use Tax rates for capital gains and qualified dividends. Required: Compute her income tax on this dividend assuming that on the basis of Ms. Shaver’s instruction, Benbow made a $19,580 direct deposit into her bank account. Compute her income tax on this dividend assuming that on the basis of Ms. Shaver’s instruction, Benbow reinvested the dividend in additional Benbow shares.

Respuesta :

Answer:

Reinvested will be "$ 2,937". The further explanation is given below.

Explanation:

According to the IRS, on either the order of the corresponding lender, the cash dividend earned or reinvested seems to be taxable during the same year.

Income tax on dividend will be:

⇒  [tex]19,580\times 15 \ percent[/tex]

⇒  [tex]2,937[/tex] ($)

When the amount is reinvested, the income tax will be:

⇒  [tex]19,580\times 15 \ percent[/tex]

⇒  [tex]2,937[/tex] ($)

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