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During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and Capital Asset Market Value Tax

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During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and Capital Asset Market Value Tax Basis Holding Period L stock M stock N stock o stock Antiques Rental home $ 55,00e 33,000 35,080 31,000 12,000 $43,580 41,580 24,500 > 1 year > 1 year 1 year > 1 year $30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. o. Given that Ron and Anne have taxable income of only $25,000 (all ordinary) before considering the tax effect of their asset sales. what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate computetions to the nearest whole dollar amount.) Prev 15 16 21 Navt b. Given that Ron and Anne have taxable income of $405,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate computations to the neorest whole dollar amount.) Gross tax llability

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