Computing the Tax . Mr. and Mrs. Sedlock file a joint return
and have taxable income of $370,000 without considering the following
information below. Determine the increase in their tax liability for the
following independent face situations.
a.They have a STCG of $20,000 and a LTCL of $12,000.
b. They have a LTCG of $30,000 due to the sale of a
collectible and a LTCG of $9,000 due to the sale of General Motors stock.
c. Same as Part b except they also have a STCL of $4,400.
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