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! Required information [The following information applies to the questions displayed below.] During the current year, Ron and Anne sold the following assets: (Use

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! Required information [The following information applies to the questions displayed below.] During the current year, Ron and Anne sold the following assets: (Use the dividends and capital gains tax rates and tax rate schedules.) Holding Period Capital Asset L stock Market Value $ 53,000 Tax Basis $ 42,500 > 1 year M stock 31,000 40,500 > 1 year N stock 33,000 23,500 < 1 year 0 stock 29,000 34,500 < 1 year Antiques 10,000 5,500 > 1 year Rental home 303,000* 91,500 > 1 year *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. a. Given that Ron and Anne have taxable income of only $23,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2022 assuming they file a joint return? Gross tax liability

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