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Given that Ron and Anne have taxable income of only $20,000 (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?

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 gains tax rates and tax rate schedules.) Capital Asset Market Value $ 50,000 Tax Basis Holding Period L stock $41,000 > 1 year M stock > 1 year 28,000 30,000 26,000 7,000 39,000 22,000 33,000 1 year Antiques Rental home 4,000 90,000 > 1 year 300,000 $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 sset sales, what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate omputations to the nearest whole dollar amount.) 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 gains tax rates and tax rate schedules.) Capital Asset Market Value $ 50,000 Tax Basis Holding Period L stock $41,000 > 1 year M stock > 1 year 28,000 30,000 26,000 7,000 39,000 22,000 33,000 1 year Antiques Rental home 4,000 90,000 > 1 year 300,000 $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 sset sales, what is their gross tax liability for 2018 assuming they file a joint return? (Round all your intermediate omputations to the nearest whole dollar amount.) Gross tax liability

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