2 Mr. and Mrs. Scoler sold commercial real estate for $616,000. Their adjusted basis at date of sale was $476,500 ($531,000 cost - $54,500 straight-line accumulated depreciation). They will file their tax return as married filing jointly. Required: Compute the Scolers' income tax and Medicare contribution tax on their recognized gain assuming that this sale was their only property disposition this year and their marginal tax rate on ordinary income is 37 percent. Use Individual tax rate schedules and Tax rates for capital gains and qualified dividends. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) 1.25 points Amount eBook Income tax on recognized gain Medicare contribution tax on recognized gain Total $ Print References Tax rates for capital gains and qualified dividends Rate 0%* 15%** 20% Married Filing Jointly Married Filing Separately $0-$80,800 $0-$40,400 $80.801-$501,600 $40.401-$250,800 $501,601+ $250.801+ Single $0-$40,400 $40.401-$445,850 $445,851+ Head of Household $0-$54.100 $54.101-$473,750 $473,751+ * The highest income amount in this range for each filing status is referred to as maximum zero rate amount. ** The highest income amount in this range for each filing status is referred to as maximum 15-percent amount Individual Tax Rate Schedules Married Filing Jointly and Surviving Spouse If taxable income is Not over $19,900 Over $19.900 but not over $81,050 Over $81,050 but not over $172.750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over S418.850 but not over $628,300 Over $628,300 The tax is 10% of taxable income $1.990.00 + 12% of excess over $19.900 $9,328.00 + 22% of excess over $81,050 $29,502.00 +24% of excess over $172.750 $67,206.00 + 32% of excess over $329,850 $95.686.00 + 35% of excess over S418.850 $168.993.50 +37% of excess over $628,300 Married Filing Separately If taxable income is Not over $9.950 Over $9.950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164.925 Over $164,925 but not over $209,425 Over $209,425 but not over $314.150 Over $314,150 The tax is 10% of taxable income $995.00 + 12% of excess over $9,950 $4.664.00 + 22% of excess over $40,525 $14.751.00 +24% of excess over $86,375 $33,603.00 +32% of excess over $164,925 $47.843.00 + 35% of excess over $209,425 $84.496.75 +37% of excess over $314,150 Head of Household If taxable income is Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164.900 Over $164.900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 The tax is 10% of taxable income $1,420.00 + 12% of excess over $14,200 S6.220.00 + 22% of excess over $54,200 $13,293.00 + 24% of excess over $86,350 $32.145.00 + 32% of excess over $164.900 $46,385.00 + 35% of excess over $209,400 $156,355.00 + 37% of excess over $523,600 Single If taxable income is Not over $9.950 Over $9.950 but not over $40,525 Over $40.525 but not over $86,375 Over $86,375 but not over $164.925 Over $164.925 but not over $209,450 Over $209,450 but not over $523,600 Over $523,600 The tax is 10% of taxable income $995.00 +12% of excess over $9,950 $4.664.00 + 22% of excess over $40,525 $14.751.00 +24% of excess over $86,375 $33,603.00 + 32% of excess over $164.925 $47.843.00 + 35% of excess over $209,425 $157.804.25 + 37% of excess over S523.600