In early 2022, the following take place:

• Helen decides that she wants to live with one of her daughters and moves to Arizona.
• Asher graduates from dental school and joins an existing practice in St. Louis.
• Mia marries, and she and her spouse move in with his parents.
• Using the insurance proceeds he received on Daniel's death, Logan pays off the mortgage on his personal residence.

Logan believes that these events may have an effect on his tax position for 2022. Therefore, he requests your advice. Assume that Logan's salary and other factors not mentioned (e.g., property and state income taxes) will remain the same. The standard deduction for qualifying widower is $25,900, for head of household $19,400 and for single $12,950 in 2022.

What is the capital loss deduction and how much less is it than the previous year? Use the 2022 tax rate schedules in projecting Logan's tax for 2022.

Note: This problem is for the 2021 tax year. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2019. He lives at 4680 Dogwood Lane, Springfield, MO 65801 . He is employed as a paralegal by a local law firm. During 2021 , he had the following receipts: Logan inherited securities worth $60,000 from his uncle, Daniel, who died in 2021 . Logan also was the designated beneficiary of an insurance policy on Daniel's life with a maturity value of $200,000. The lot in St. Louis was purchased on May 2, 2016, for $85,000 and held as an investment. Because the neighborhood has deteriorated, Logan decided to cut his losses and sold the lot on January 5, 2021, for $80,000. The estate sale consisted largely of items belonging to Sara and Daniel (e.g., camper, boat, furniture, and fishing and hunting equipment). Logan estimates that the property sold originally cost at least twice the $9,000 he received and has declined or stayed the same in value since Sara and Daniel died. Logan's expenditures for 2021 include the following: While Logan and his dependents are covered by his employer's health insurance policy, he is subject to a deductible, and dental care is not included. The $10,500 dental charge was for Helen's implants. Helen is Logan's widowed mother, who lives with him (see below). Logan normally pledges $2,400 ( $200 per month) each year to his church. On December 5, 2021, upon the advice of his pastor, he prepaid his pledge for 2022. Logan's household, all of whom he supports, includes the following: Helen receives a modest Social Security benefit. Asher, a son, is a full-time student in dental school and earns $4,500 as a part-time dental assistant. Mia, a daughter, does not work and is engaged to be married. Federal income tax of $4,200 was withheld from his wages. Note: This problem is for the 2021 tax year. Logan B. Taylor is a widower whose wife, Sara, died on June 6, 2019. He lives at 4680 Dogwood Lane, Springfield, MO 65801 . He is employed as a paralegal by a local law firm. During 2021 , he had the following receipts: Logan inherited securities worth $60,000 from his uncle, Daniel, who died in 2021 . Logan also was the designated beneficiary of an insurance policy on Daniel's life with a maturity value of $200,000. The lot in St. Louis was purchased on May 2, 2016, for $85,000 and held as an investment. Because the neighborhood has deteriorated, Logan decided to cut his losses and sold the lot on January 5, 2021, for $80,000. The estate sale consisted largely of items belonging to Sara and Daniel (e.g., camper, boat, furniture, and fishing and hunting equipment). Logan estimates that the property sold originally cost at least twice the $9,000 he received and has declined or stayed the same in value since Sara and Daniel died. Logan's expenditures for 2021 include the following: While Logan and his dependents are covered by his employer's health insurance policy, he is subject to a deductible, and dental care is not included. The $10,500 dental charge was for Helen's implants. Helen is Logan's widowed mother, who lives with him (see below). Logan normally pledges $2,400 ( $200 per month) each year to his church. On December 5, 2021, upon the advice of his pastor, he prepaid his pledge for 2022. Logan's household, all of whom he supports, includes the following: Helen receives a modest Social Security benefit. Asher, a son, is a full-time student in dental school and earns $4,500 as a part-time dental assistant. Mia, a daughter, does not work and is engaged to be married. Federal income tax of $4,200 was withheld from his wages