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During the current year, Han and Leia sold the following asset market value tax basis holding period Chewbacca stock 52000 38000 > 1 year c-3PO

During the current year, Han and Leia sold the following

asset market value tax basis holding period
Chewbacca stock 52000 38000 > 1 year
c-3PO stock 21000 39000 > 1 year
qui-gon stock 42000 32000 < 1 year
Death Star stock 16000 39000 < 1 year
antique light saber collection 15000 33000 > 1 year
apartment complex* 328000 148000 > 1 year

$100,000 of the gain is 25 percent gain (Section 1250 recapture).

Han and Leia have other income of $135,000 in wages and $5,600 of qualifying dividends before considering the tax effect of their asset sales.

What is their tax liability for 2020 assuming they file a joint return? Tax liability=??

What is their net short term/long term gains and losses?

short term 28% 25% 0/15/20%

PLEASE SHOW ALL WORK!

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