ile ili III ITT ni 1 2 3 15 Using the taxpayer information and sales data below, net any capital gains and losses, apply the capital gain netting process, use the tax formula to determine the taxable income, and calculate the taxpayer's tax liability for the 2020 taxable year. Note that all gain realized on the sale of the rental property is 25-percent rate gain. Your solution must show the netting process and tax liability calculations. Solutions that do not show work will not be awarded credit. Taxpayer information: I Marital status: Single Ordinary income before capital gains (losses): 172,700 For AGI deductions: none Itemized deductions: none Standard deductions: 12400 QBID: none Tax credits: none Sales Data Description Date Purchased Date Sold Adjusted Basis Amount Realized Stock A 6/1/2019 1/2/2020 18,000 6,000 Stock B 1/15/2017 11/30/2020 11,000 295,250 Stock 2/1/20 6/15/20 200 1,200 Stock 7/14/12 9/5/20 22,000 16,000 30,000 Antiques 3/1/94 7/1/20 20,000 Rental property 8/15/19 4/22/20 69,000 77,000 1. All gain realized on sale of rental property is 25% rato gain