Help Save & Exit Submit During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Check my work Holding Period Capital Asset L stock M stock N stock Ostock Antiques Rental home Market Value $ 50,000 28,000 30,000 26,000 7,000 300,000 Tax Basis $41,000 39,000 22,000 33,000 4,000 90,000 > 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. b. Given that Ron and Anne have taxable income of $400,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2020 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.) Gross tax liability