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Please help! need everything highlighted blue filled out. thank you! 2022 tax rate schedule. please do not copy and paste previous answered question. c During

Please help! need everything highlighted blue filled out. thank you! 2022 tax rate schedule. please do not copy and paste previous answered question. c
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During 2022, your clients, Mr, and Mrs. Howell, owned the following investment assets: 'No commissions are charged when no-load mutual funds are bought and sold, Because of the downtum in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund In 2022 and to reinvest in municipal bonds. The following investment assets were sold in 2022: 'No commissions are charged when no-load mutual funds are bought and sold. The Howell' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example. the IBM sales proceeds were reported as $13,600 on the Form 1099-8 they recelved. In addition to the sales reflected in the fable above, the Howells provided you with the following additional information concerning 2022: - The Howells recelved a Form 1099.8 from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2022. - In 2016, Mrs. Howell loaned \$6,000 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2022, and Mrs. Howell has been notified she will not be recelving any repayment of the loan. - The Howells have a $2,300 short-term capital loss carryover and a $4,800 long-term capital loss carryover from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $3,000 in municipal bond interest, $3,000 in interest from corporate bonds, and $4,000 in qualified dividends. - Assume the Howells have $130,000 of wage income during the year. a. Use Form 8949 and page 1 of Schedule D to compute net long-term and short-term capital gains. Then, compute the Howells' tax liability for the year (ignoring the alternative minimum tax and any phase-out provisions) assuming they file a joint return, they have no dependents, they don' make any special tax elections, and their itemized deductions total $30,000. Assume that asset bases are reported to the IRS. (Use the gax rate schedules, Dividends and Capital Gains Tax Rates.) (A) Short term transactiont reported on Formi(0) 1002-B showing basit was reported to the IRS (sce Noce above) (B) Shortsorm transections reported on Form(0) 1099 B showing besis watnit reported to the IRS You munt check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (D) Long-term trantactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (E) Long-term transactions reported on Form(s) 1099-B showing basis wasn't reported to the IRS During 2022, your clients, Mr, and Mrs. Howell, owned the following investment assets: 'No commissions are charged when no-load mutual funds are bought and sold, Because of the downtum in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund In 2022 and to reinvest in municipal bonds. The following investment assets were sold in 2022: 'No commissions are charged when no-load mutual funds are bought and sold. The Howell' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example. the IBM sales proceeds were reported as $13,600 on the Form 1099-8 they recelved. In addition to the sales reflected in the fable above, the Howells provided you with the following additional information concerning 2022: - The Howells recelved a Form 1099.8 from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2022. - In 2016, Mrs. Howell loaned \$6,000 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2022, and Mrs. Howell has been notified she will not be recelving any repayment of the loan. - The Howells have a $2,300 short-term capital loss carryover and a $4,800 long-term capital loss carryover from prior years. - The Howells did not instruct their broker to sell any particular lot of IBM stock. - The Howells earned $3,000 in municipal bond interest, $3,000 in interest from corporate bonds, and $4,000 in qualified dividends. - Assume the Howells have $130,000 of wage income during the year. a. Use Form 8949 and page 1 of Schedule D to compute net long-term and short-term capital gains. Then, compute the Howells' tax liability for the year (ignoring the alternative minimum tax and any phase-out provisions) assuming they file a joint return, they have no dependents, they don' make any special tax elections, and their itemized deductions total $30,000. Assume that asset bases are reported to the IRS. (Use the gax rate schedules, Dividends and Capital Gains Tax Rates.) (A) Short term transactiont reported on Formi(0) 1002-B showing basit was reported to the IRS (sce Noce above) (B) Shortsorm transections reported on Form(0) 1099 B showing besis watnit reported to the IRS You munt check Box D, E, or F below. Check only one box. If more than one box applies for your long-term transactions, complete a separate Form 8949, page 2, for each applicable box. If you have more long-term transactions than will fit on this page for one or more of the boxes, complete as many forms with the same box checked as you need. (D) Long-term trantactions reported on Form(s) 1099-B showing basis was reported to the IRS (see Note above) (E) Long-term transactions reported on Form(s) 1099-B showing basis wasn't reported to the IRS

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