Melinda Is in the 35% Marginal Tax Bracket

question 91

Essay

Melinda is in the 35% marginal tax bracket.She has a net capital gain of $150,000 on the sale of land which is eligible for the alternative tax on net capital gain in calculating the regular income tax.Discuss the tax rate that applies to the $150,000 net capital gain in calculating the tentative AMT for Melinda.

---

Definitions:

Moral Imperative

A principle or obligation that is ethically necessary or required, compelling a person to act in a certain way.

Ethical Intensity

The degree of importance or impact an ethical issue has, based on its consequences, social consensus, and probability of harm.

Federal Law

Legislation enacted by the national government of a sovereign state that applies to the entire country.

Social Consensus

A general agreement among the members of a given group or society, reflecting a common understanding or shared values and beliefs.