A single taxpayer has $15,000 of ordinary taxable income in 2016 (after his exemption and standard deduction but before consideration of the following recognized gains), a $9,000 long-term capital gain on the sale of an antique painting, a $10,000 unrecaptured Section 1250 gain on realty, and a $25,000 gain on the sale of bonds.
a. What is his 2016 tax liability?
b. How would your answer change if his ordinary taxable income was $225,000?
c. How would your answer change if his ordinary taxable income was $425,000?