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 $67,000 Meg works part time at the same university She earns $36,600 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 ) Note Round your final answers to the nearest whole dollar amount a What is the Comers' tax liability for 2022 if they report the following capital gains and losses for the year Short term capital gains $ 12,600 Short term capital losses (3,800) Long term capital gains 18,600 Long term capital losses (7,800) b What is the Comers' tax liability for 2022 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 14,800 Long term capital losses (11,800) Schedule Y 1 Married Filing Jointly or Qualifying Widow(er) If taxable income is over But not over The tax is $ 0 $ 20,550 10 of taxable income $ 20,550 $ 83,550 $2,055 plus 12 of the excess over $20,550 $ 83,550 $ 178,150 $9,615 plus 22 of the excess over $83,550 $ 178,150 $ 340,100 $30,427 plus 24 of the excess over $178,150 $ 340,100 $ 431,900 $69,295 plus 32 of the excess over $340,100 $ 431,900 $ 647,850 $98,671 plus 35 of the excess over $431,900 $ 647,850 $174,253 50 plus 37 of the excess over $647,850 Tax Rates for Net Capital Gains and Qualified Dividends Rate Taxable Income Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0 $0 $83,350 $0 $41,675 $0 $41,675 $0 $55,800 $0 $2,800 15 $83,351 $517,200 $41,676 $258,600 $41,676 $459,750 $55,801 $488,500 $2,801 $13,700 20 $517,201 $258,601 $459,751 $488,501 $13,701 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)

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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 $67,000. Meg works part time at the same university. She earns $36,600 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.) Note: Round your final answers to the nearest whole dollar amount. a. What is the Comers' tax liability for 2022 if they report the following capital gains and losses for the year? Short-term capital gains $ 12,600 Short-term capital losses (3,800) Long-term capital gains 18,600 Long-term capital losses (7,800). b. What is the Comers' tax liability for 2022 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	14,800
Long-term capital losses	(11,800)

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)

If taxable income is over:	But not over:	The tax is:
$ 0	$ 20,550	10% of taxable income
$ 20,550	$ 83,550	$2,055 plus 12% of the excess over $20,550
$ 83,550	$ 178,150	$9,615 plus 22% of the excess over $83,550
$ 178,150	$ 340,100	$30,427 plus 24% of the excess over $178,150
$ 340,100	$ 431,900	$69,295 plus 32% of the excess over $340,100
$ 431,900	$ 647,850	$98,671 plus 35% of the excess over $431,900
$ 647,850		$174,253.50 plus 37% of the excess over $647,850

Tax Rates for Net Capital Gains and Qualified Dividends

Rate*	Taxable Income
Rate*	Married Filing Jointly	Married Filing Separately	Single	Head of Household	Trusts and Estates
0%	$0 - $83,350	$0 - $41,675	$0 - $41,675	$0 - $55,800	$0 - $2,800
15%	$83,351 - $517,200	$41,676 - $258,600	$41,676 - $459,750	$55,801 - $488,500	$2,801 - $13,700
20%	$517,201+	$258,601+	$459,751+	$488,501+	$13,701+

*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).