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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 dividends and capital

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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 dividends and capital gains tax rates and tax rate schedules.) $30,000 of the gain is 25 percent gain (from accumulated depreciation on the property). Ignore the Net Investment Income Tax. Given that Ron and Anne have taxable income of only $20,000 (all ordinary) before considering the tax effect of their asset sales, hat is their gross tax liability for 2022 assuming they file a joint return? b. Given that Ron and Anne have taxable income of $400,000 (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? Tax Rates for Net Capital Gains and Qualified Dividends 1 *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). 2022 Tax Rate Schedules Individuals Comodiuln y Cinaln

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