Mark and Melanie , both under age 65 file a joint tax return for their 2020 tax year reporting the following information : Salary income $55,000 Interest income 6,600 Qualified dividend income . Capital gain from sale of stock held 12 years 79,200 - Capital loss from sale of stock held 8 months 4,400) - Capital loss from sale of stock held 3 years . (8,800)

Compute the couple's regular taxable income and their regular tax liability before any credits or prepayments using the applicable tax rates for their ordinary income and any alternative rates for other qualifying income . The couple uses the standard deduction in 2020