Michelle and patrick are in the 28% marginal tax bracket. They bought 100 shares of djn stock at $45 per share and sold them 4 years later in 2015 at $22 per share? By how much did their loss reduce their taxes in the year when they sold the stock?

From the question, we are informed that Michelle and Patrick are in the 28% marginal tax bracket and that they bought 100 shares of djn stock at $45 per share and sold them 4 years later in 2015 at $22 per share.

To get the amount by which their loss reduce their taxes in the year when they sold the stock goes thus:

= 28% × [($45 × 100) - ($22 × 100)]

= 28% × ($4500 - $2200)

= 28% × $2300

= 0.28 × $2300

= $644

Michelle and patrick are in the​ 28% marginal tax bracket. They bought 100 shares of djn stock at​ $45 per share and sold them 4 years later in 2015 at​ $22 per​ share? By how much did their loss reduce their taxes in the year when they sold the​ stock?

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Michelle and patrick are in the 28% marginal tax bracket. They bought 100 shares of djn stock at $45 per share and sold them 4 years later in 2015 at $22 per share? By how much did their loss reduce their taxes in the year when they sold the stock?