$!$

Required information

Problem $7\mathrm{.}45($LO $7-2)($Algo$)$

$[$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 $$69,700.$ Meg works part time at the same university. She earns

$$43,300$ 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,

Dividends and Capital Gains Tax Rates.$)$

Note: Round your final answers to the nearest whole dollar amount.

Problem $7-45$ Part$-$b $($Algo$)$

b$.$ What is the Comers' tax liability for $2023$ if they report the following capital gains and losses for the year?

Short$-$term capital gains

$$1,650$

Short$-$term capital losses

$0$

Long$-$term capital gains

$13,060$

Long$-$term capital losses

$(10,100)$