Editing Styles Star-Lord and Gamora have taxable income of $412,000 (all ordinary) before considering the tax effect of their asset sales (shown below). What is their net capital gain/loss (be sure to show work for potential partial credit)? What is their tax liability for 2019 assuming they file a joint return? Gain/loss Held 1 year > 1 year Asset Loki stock Grout Stock Hulk antique collection Thor stock Wasp stock Rogue stock Asgard Rental House Storm stock Market Value 12,500 29,000 185,000 $60,000 39,000 22,000 370,000 77,300 Tax Basis 3,900 42,000 95,000 $37,000 36,000 34,000 210,000 63,600 > 1 year 1 year > 1 year $45,000 of the rental house gain is 25% gain ($1250 subject to recapture) The couple also had a $18,000 long term capital loss carry forward from prior years. Tax Liability Net capital Gain/Loss Show your worketting of gains and losses Jnited States Focus A E o e eM - L W @ 25 BTU- X, X A MEE ** 2! EEEEEE AaBbcc AaBb CcDc Aalbcdi Aabend Aa Bbc Normal 1 No Space Heading 8 Heading 9 Subtitle Find che Replace D Select Dictate Sensity Paragraph Style Editing Tax Liability Net capital Gain/Loss Show your worketting of gains and losses D. Focus 3 8 - words DR English (United States) wpe here to search 259 - ENG /12/2020