Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $64,000. Meg works part-time at the same university. She earns $33,000 a year. The couple does not itemize deductions. Other than salary, the Comers only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.)

a. What is the Comers tax liability for 2019 if they report the following capital gains and losses for the year?

Short-term capital gains	$	9,000
Short-term capital losses		(2,000)
Long-term capital gains		15,000
Long-term capital losses		(6,000)

b. What is the Comers tax liability for 2019 if they report the following capital gains and losses for the year?

Short-term capital gains	$	1,500
Short-term capital losses		0
Long-term capital gains		13,000
Long-term capital losses		(10,000)

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: $ 0 $ 19,400 $ 19,400 $ 78,950 $ 78,950 $168,400 $168,400 $321,450 $321,450 $408,200 $408,200 $612,350 $612,350 The tax is: 10% of taxable income $1,940 plus 12% of the excess over $19,400 $9,086 plus 22% of the excess over $78,950 $28,765 plus 24% of the excess over $168,400 $65,497 plus 32% of the excess over $321,450 $93,257 plus 35% of the excess over $408,200 $164,709.50 plus 37% of the excess over $612,350 Tax Rates for Net Capital Gains and Qualified Dividends Head of Household Rate* 0% 15% 20% Married Filing Jointly SO - $78,750 $78,751 - $488,850 $488,851+ Married Filing Separately $0-$39,375 $39,376 - $244,425 $244,426+ Taxable Income Single $0 - $39,375 $39,376 - $434,550 $434,551+ $0 - $52,750 $52,751 - $461,700 $461,701+ Trusts and Estates $0 - $2,650 $2,651 - $12,950 $12,951+ *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose)