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I can't figure out how to do this question and these are the rates we are using. An explanation would be great so I know

I can't figure out how to do this question and these are the rates we are using. An explanation would be great so I know what i'm doing. image text in transcribed
image text in transcribed
b. What is Terris Tet What is Terri's tax liability? C. 48. LO.8 During 2019, Inez (a single taxpayer) had the following transactions involving capital assets: Gain on the sale of unimproved land (held as an investment for 3 years) Loss on the sale of a camper (purchased 2 years ago and used for family vacations) Gain on the sale of ADM stock (purchased 9 months ago as an investment) Gain on the sale of a fishing boat and trailer (acquired 18 months ago at an auction and used for recreational purposes) ovil no $3,00 (5,000) 4,000 1,000 a. If Inez has taxable income of $158,000, how much income tax results? b. If Inez has taxable income of $35,000, how much income tax results? 108 During 2019, Chester (a married taxpayer filing a joint return) had the follow- But not income is: Over- The tax is: 2$ over- 2$ .........10% $ 19,050 2$ 9,525 19,050 1,905.00 + 12% 38,700 77,400 77,400 19,050 8,907.00 + 22% 165,000 82,500 77,400 165,000 28,179.00 + 24% 315,000 157,500 165,000 315,000 64,179.00 + 32% 400,000 200,000 315,000 400,000 91,379.00 + 35% 600,000 300,000 400,000 600,000 161,379.00 +37% 600,000 ......... 2019 Tax Rate Schedules Head of house Single-Schedule X If taxable If taxable of the income is: amount income is: Over- But not Over- The tax is: over- over- 2$ 2$ $ 9,700 ........10% 9,700 13,850 39,475 9,700 970.00 + 12% 52,850 39,475 84,200 4,543.00 + 22% 39,475 84,200 160,725 84,200 14,382.50 + 24% 84,200 160,725 204,100 32,748.50 + 32% 160,700 160,725 204,100 510,300 46,628.50 + 35% 204,100 204,100 510,300 153,798.50 + 37% 510,300 510,300 Married filing jointly or Qualifying widow(er)- Married filir Schedule Y-1 If taxable of the If taxable income is: But not amount income is: Over- over- The tax is: over- Over- 2$ $ 19,400 ......10% 19,400 78,950 $ 1,940.00 + 12% 19,400 78,950 9,700 168,400 9,086.00 + 22% 78,950 168,400 39,475 321,450 28,765.00 + 24% 321,450 168,400 84,200 408,200 65,497.00 + 32% 408,200 321,450 160,725 612,350 93,257.00 + 35% 612,350 408,200 204,100 164,709.50 + 37% .......... 612,350 306,175

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