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B. Ron and Anne taxable income of 400,000(all ordinary) before considering the tax effect of their asset sales, what is there gross tax liability for

B. Ron and Anne taxable income of 400,000(all ordinary) before considering the tax effect of their asset sales, what is there gross tax liability for 2019 assuming the file joint

capital asset MV tax basis holding period

l 50000 41000 >1
m 28000 39000 >1
n 30000 22000 <1
o 26000 33000 <1
antiques 7000 4000 >1
rental 300,000 90000 >1

description Short term Long term 28 Long term 25 Long term 0/15/20
Net short term on N&O
Antiques
Unrecaptured 1250 gain
Remaining gain on rental
Net of stocks L & O
Step 2
Step 5
Income before capital
Total taxable income

tax using table on non cap income 90953
0/15/20 stuff taxed at 15%
0/15/20 taxed at 20%
cap gain taxed at 25%
cap gain taxed at 28% 840
Total tax
Cutoff 488,850
ordinary income 401,000
amount of 0/15/20 taxed at 15%
tax at 15%
total 0/15/20 capital gain
Less: amount 0/15/20 gain taxed at 20
tax at 20%
Total tax on 0/15/20 stuff

tax of 90953 is of 401,000 taxable income, the 840 is right

I need it done in this format for 2019 tax year

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