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calculate the gross tax liability Required information [The following information applies to the questions...

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Accounting

image calculate the gross tax liability

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 gain ates and ul Capital Asset Market Value L stock M stock N stock 0 stock Antiques Rental home Tax Basis $41,700 39,700 22,700 33,700 4,700 90,700 Holding Period s 1 year 1 year k 1 yean k1 year > 1 yean 1 year $ 51,400 29,400 31,400 27,400 8,400 301,400* $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 $21,400 (all ordinary) before considering the tax effect of their asset sales what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate computations to the nearest whole dollar amount.) Gross tax liability

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