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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
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 1 year > 1 year 1 year $43,100 41,100 L stock M stock 54,200 32,200 34,200 30,200 11,200 N stock 24,100 35,100 o stochk Antiques 6,100 92,100 Rental home 304,200* $30,000 of the gain is 25 percent gain (from accumulated depreciation on the property) Ignore the Net Investment Income Tax b. Given that Ron and Anne have taxable income of $404,200 (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 nearest whole dollar amount.) Gross tax liability
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