Required information Skip to question The following information applies to the questions displayed below 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 $64,300 Meg works part time at the same university She earns $33,600 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 ) (Round your final answers to the nearest whole dollar amount ) a What is the Comers tax liability for 2019 if they report the following capital gains and losses for the year Short term capital gains $ 9,120 Short term capital losses (2,120) Long term capital gains 15,230 Long term capital losses (6,230) Total Tax Liability b What is the Comers tax liability for 2019 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 11,520 Long term capital losses (10,120) Total Tax liability Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate Head of Household 0 15 20 Married Filing Jointly $0 $78,750 $78,751 $488,850 $488,851 Married Filing Separately $0 $39,375 $39,376 $244,425 $244,426 Single SO S39,375 $39,376 S434,550 $434,551 $0 $52,750 $52,751 $461,700 $461,701 Trusts and Estates $0 $2,650 $2,651 $12,950 S12,951 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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Required information Skip to question [The following information applies to the questions displayed below.] Matt and Meg Comer are married and file a joint tax

Required information

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[The following information applies to the questions displayed below.]

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 $64,300. Meg works part-time at the same university. She earns $33,600 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.) (Round your final answers to the nearest whole dollar amount.)

a. What is the Comers tax liability for 2019 if they report the following capital gains and losses for the year?


Short-term capital gains	$	9,120
Short-term capital losses		(2,120)
Long-term capital gains		15,230
Long-term capital losses		(6,230)

Total Tax Liability:

b. What is the Comers tax liability for 2019 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		11,520
Long-term capital losses		(10,120)

Total Tax liability:

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Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate Head of Household 0% 15% 20% Married Filing Jointly $0 - $78,750 $78,751 - $488,850 $488,851+ Married Filing Separately $0-$39,375 $39,376 - $244,425 $244,426+ Single SO-S39,375 $39,376 - S434,550 $434,551+ $0-$52,750 $52,751 - $461,700 $461,701+ Trusts and Estates $0-$2,650 $2,651 - $12,950 S12,951+ *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)