I Sprint Wi-Fi 6:27 PM Walt is single and has no dependents. Without considering his $20,000 adjusted net capital gain (ANCG), his taxable income which includes no investment income. In 2016 is as follows: GI Home Mortgage Interest State and local inocme taxes $249,000 7,200 6,300 050 table Contributions Personal exemptions Taxable Income What is Walt tax liablity with the ANCG, begin by computing Walt's taxable income with ANCG. (round the phasout multipl up to the next whole 050 208,950 GI with ANCG Minus: Taxable income with ANCG Now compute Walt's tax lability with ANCG. ( do not round intermediary calculations. Enter amount you input in the cell to the nearest cent) 7) Tax Liability with ANCG For 1 thru 7 select the following terms AGI before ANCG ANCG Exemption Itemized deduction Standard deduction