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Tormation [The following information applies to the questions displayed below.] Matt and Meg Comer are married and file a joint tax return. They do not

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Tormation [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 $70,100. Meg works part-time at the same university. She earns $33,600 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 stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.) a. What is the Comers' tax liability for 2021 If they report the following capital gains and losses for the year? Short-term capital gains Short-term capital losses Long-term capital gaino Long-term capital louses $ 13,000 (6,000) 19,000 (10,000) Total tax liability Lax Rates for Net Capital Gains and Qualified Dividends Taxable income Rate" Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0% $0-$80.800 $0-$40.400 SO - $40,400 SOS54,100 SO - $2,700 1596 $80,801 - 5501,600 S40,401 - $250.800 $40.401 - $445 850 $54,101.5473,750 $2,701 - $13,250 20% $501.601+ $250.801+ $445.851+ $473,751+ $13,251+ 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 rains and qualified dividends are included in taxable income last for this purpose). Schedule X-Single If taxable income is over:But not over: The tax is: $ 0 $ 9,950 10% of taxable income $ 9.950 $ 40,525 $995 plus 12% of the excess over $9,950 $ 40,525 $ 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 $ 164,925 $14,751 plus 24% of the excess over $86,375 $ 164,925 $ 209,425 $33,603 plus 32% of the excess over $164,925 $ 209,425 $ 523,600 $47,843 plus 35% of the excess over $209,425 $ 523,600 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: S 0 $ 19,900 10% of taxable income $ 19.900 $ 81,050 $1.990 plus 12% of the excess over $19,900 $ 81,050 S 172,750 $9,328 plus 22% of the excess over $81,050 $ 172,750 $ 329,850 $29,502 plus 24% of the excess over $172,750 $ 329,850 $ 418,850 $67,206 plus 32% of the excess over $329,850 $ 418,850 $ 628,300 $95,686 plus 35% of the excess over $418,850 $ 628,300 $168.993.50 plus 37% of the excess over $628,300 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: S 0 $ 14,200 10% of taxable income $ 14,200 $ 54,200 $1,420 plus 12% of the excess over $14,200 $ 54,200 $ 86,350 $6,220 plus 22% of the excess over $54,200 $ 86,350 S 164,900 $13,293 plus 24% of the excess over $86,350 $164.900 S 209,400 $32,145 plus 32% of the excess over $164,900 $ 209.400 S 523,600 $46,385 plus 35% of the excess over $209,400 $ 523,600 $156,355 plus 37% of the excess over $523,600

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