Question
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
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 $67,300 . Meg works part time at the same university. She earns $36,000 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).
Short-term capital gains $12,000
Short-term capital losses (3,500)
Long-term capital gains 18,000
Long-term capital losses (7,500)
What is the Comers' tax liability for 2022 if they report the following capital gains and losses for the year?
I need help please, I don't understand this question and it says that my answer is wrong every time!
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