Matt and Meg Comer are married. They do not have 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 $21,000 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). Assume they file a joint return.

A.) What is the Comers' tax liability for 2017 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 2017 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)