In Tom and Alejandro Jackson married filing jointly have $ of taxable income before considering the following events Use the dividends and capital gains tax rates and tax rate schedules.
a On May they sold a painting art for $ that was inherited from Grandma on July The fair market value on the date of Grandma's death was $ and Grandma's adjusted basis of the painting was $
b They applied a longterm capital loss carryover from of $
c They recognized a $ loss on the sale of bonds acquired on
d They recognized a $ gain on the sale of IBM stock NYSE:IBMacquired on
e They recognized a $ gain on the sale of rental property the only $ transaction of which $ is reportable as gain subject to the percent maximum rate and the remaining $ is subject to the or percent maximum rates the property was acquired on
f They recognized a $ loss on the I sale of bonds acquired on
They recognized a $ gain on the sale of BH stock acquired on
h They recognized an $ loss on the sale of QuikCo stock acquired on
i They received $ of qualified dividends on
Complete the required capital gains netting procedures and calculate the Jacksons' tax liability.
Total tax liability
Please make sure it is correct.