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Required information [ The following information applies to the questions displayed below. ] Matt and Meg Comer are married and file a joint tax return.
Required information
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 $ Meg works part time at the same university. She earns
$ 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 stocksUse the tax rate schedules,
Dividends and Capital Gains Tax Rates.
Note: Round your final answers to the nearest whole dollar amount.
b What is the Comers' tax liability for if they report the following capital gains and losses for the year?
Shortterm capital gains $
Shortterm capital losses $
Longterm capital gains $
Longterm capital losses $
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