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 $70,000. Meg works part time at the same university. She earns. $43,000 a year. The couple does not itemize déductions. 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) a. What is the Comers' tax liability for 2023 if they report the following capital gains and losses for the year? Short-term capital gains Short-term capital losses Long-term capital gains $9,000 (2,000) 15,000 Long-term capital losses (6,000) Note: Round your final answer to the nearest whole dollar amount. Total tax liability

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 $70,000. Meg works part time at the same university. She earns. $43,000 a year. The couple does not itemize déductions. 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) a. What is the Comers' tax liability for 2023 if they report the following capital gains and losses for the year? Short-term capital gains Short-term capital losses Long-term capital gains $9,000 (2,000) 15,000 Long-term capital losses (6,000) Note: Round your final answer to the nearest whole dollar amount. Total tax liability

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter15: Choice Of Business Entity—other Considerations

Section: Chapter Questions

Problem 49P

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