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

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[The following information applies to the questions displayed below. ] During the current year, Ron and Anne sold the following assets: (Use the tax rate schedules.) Capital Asset Market Value Tax Basis Holding Period Lstock $ 50,000 $41,000 > 1 year M stock 28,000 39,000 > 1 year N stock 30,000 22,000 1 year Rental * home 300,000 90,000 > 1 year *$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax

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