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Required information (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 $64,000. Meg works part-time at the same university. She earns $33,000 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, Tax Rates.) (Round your final answers to the nearest whole dollar amount.) b. What is the Comers' tax liability for 2019 if they report the following capital gains and losses for the year? $ 1,500 Short-term capital gains Short-term capital losses Long-term capital gains Long-term capital losses 13,000 (10,000) Total tax liability Lesson 7 Graded Problems 019 Tax Rate Schedules ndividuals chedule X-Single 0 If taxable income is over: But not over: The tax is: $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46,628.50 plus 35% of the excess over $204,100 $510,300 - $153,798.50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,400 10% of taxable income $ 19.400 $ 78,950 $1.940 plus 12% of the excess over $19.400 $ 78.950 $168,400 $9,086 plus 22% of the excess over $78,950 $168,400 $321,450 $28,765 plus 24% of the excess over $168,400 $321,450 $408,200 $65,497 plus 32% of the excess over $321,450 $408.200 $612,350 $93.257 plus 35% of the excess over $408,200 $612,350 $164,709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 13,850 10% of taxable income $ 13,850 $ 52,850 $1,385 plus 12% of the excess over $13,850 $ 52,850 $ 84,200 $6,065 plus 22% of the excess over $52,850 $ 84,200 $160,700 $12.962 plus 240 of $12.962 plus 24% of the excess over $84,200 $160,700 $204,100 $31,322 plus 32% of the excess over $160,700 $204,100 S510,300 $45.210 plus 35% of the excess over $204.100 $510,300 $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately Rates for Net Capital Gains and Qualified Dividends! Table Income Rate Married Filing Jointly Married Filing Separately Single 05 SO - $78,750 $0-$39,375 $0-$39,375 15 $78,751 - $488850 $39,376 - $244 425 $39,376 - $434.550 20% $488,851+ $244.426+ $434,551+ This rate applies to the net capital gains and qualified dividends that fall within the range of this purpose). Head of Household I Trusts and Estates $0-52,750 $0-$2.650 $51,751 - $461,700 $2,651 - $12.950 $461,701 $12.951+ ble income specified in the table (nel capital gains and qualified dividends are

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