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28. Mr. and Mrs. Scoler sold commercial real estate for $685,000. Their adjusted basis at date of sale was $544,700 ($596,600 cost - $51,900 straight-
28. Mr. and Mrs. Scoler sold commercial real estate for $685,000. Their adjusted basis at date of sale was $544,700 ($596,600 cost - $51,900 straight- line accumulated depreciation). 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. 28. Mr. and Mrs. Scoler sold commercial real estate for $685,000. Their adjusted basis at date of sale was $544,700 ($596,600 cost - $51,900 straight- line accumulated depreciation). 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
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