This is a taxation question. Please answer per what is provided by the professor. This is in regards to capital gains and losses in taxation.

5. Linda Niles is single, has no dependents and does not itemize her deductions. Linda has the following items of income for 2017:

Salary from her job $75,000

Interest Income from U.S. Treasury Bonds 5,000

Interest Income from City of Mulvane Bonds 8,000

LTCG on sale of stock 12,000

STCL on sale of stock (7,000)

Compute Lindas adjusted gross income, taxable income, and tax liability for 2017:

6. Same as (5), except the STCL was $20,000.

7. Linda has the following gains and losses during 2017:

LTCG from sale of stock $12,000

LTCL from sale of stock (3,000)

Gain on sale of building (all considered 25% gain) 18,000

LTCL on sale of collectible (12,000)

STCG on sale of stock 4,000

Compute the additional tax that Linda will have to pay as a result of these transactions assuming she is in the 35% tax bracket:

8. Same as (7), except assume Linda is in the 15% tax bracket.