Capital Gains and Losses (LO. 5) Jason and Jill are married and have a six-year-old daughter. During the year, they sell one acre of land for $80,000. Three years ago, they paid $70,000 for two acres of land. Their other income and deductions are as follows: Jill's commissions $82,000 Jason's salary 46,000 Dividend income 5,000 Interest income 8,000 Short-term loss on sale of stock in Nippon Inc. (15,000) Deductions for adjusted gross income 28,000 The standard deduction is $24,800 for married taxpayers filing jointly. The personal and dependency exemptions have been eliminated for 2018. Dividends and net long-term capital gains are taxed at a rate of 15%. Refer to the Tax schedules table to answer the following question. Round intermediate calculations to the nearest dollar. Jason and Jill's taxable income is $ The tax on their eligible dividends and capital gains is $ and total income tax liability is $ for the current year