Netting Gains and Losses. Trisha, who is single and has taxable income of $300,000, sells the following capital assets in 2019 with gains and losses as shown: I:5-44 Holding Period Gain or (Loss) Asset 15 months 20 months 14 months $15,000 A 7,000 (3,000) C a. Determine Trisha's increase in income tax liability as a result of the three sales. All assets are stock held for investment. Ignore the effect of increasing AGI on deductions and phase- out amounts. b. Determine her increase in income tax liability if the holding period for asset B is 8 months. c. Determine her increase in income tax liability if the holding periods Part a but asset B is an d. Determine her increase in income tax are the same as in antique clock. liability if her taxable income is $700,000