George and Jen are in the $37\%$ tax bracket for ordinary income and the $20\%$ bracket for capital gains $($ignore the $3\mathrm{.}8\%$ additional tax on ifivestment income for higher$-$income taxpayers.$)$ They have owned several blocks of stock for many years. They are considering the sale of two blocks of stock. The sale of one block would produce a gain of $$11,000.$ The sale of the other would produce a loss of $$19,000.$ For purposes of this problem, ignore any restrictions on deductions or credits based on AGI. They have no other gains or losses this year.

Read the requirements.

Requirement a$.$ How much tax will they save in the current year if they sell the block of stock that produces a loss?

George and Jen will save

Requirement b$.$ How much additional tax will they pay if they sell the block of stock that produces a gain?

George and Jen will pay an additional

Requirement $c.$ What will be the impact on their taxes if they sell both blocks of stock?

George and Jen will

Dollar amount owed or saved

Capital loss carryover