Rhonda and Shae are married with taxable income of $100,000 BEFORE any of the following transactions in 2020: - Long-term capital gain of $2,200 - Short-term capital gain of $14,800 - Long-term capital loss of ($10,000) - Short term capital loss of ($15,000) What is their tax liability for the 2020 tax year? The formula to calculate the tax on ordinary income between $80,250 and $171,050 equals: $9,235 plus 22% of the excess over $80,250