Respond to the following independent situations:

a. Masa and Haiming, husband and wife, filing jointly, earn $250,000 in salaries and do not have any net investment income.

b. Masa and Haiming, husband and wife, filing jointly, earn $180,000 in salaries and $40,000 in capital gains, $40,000 in dividends, and $20,000 in savings interest for a total MAGI of $280,000.

c. Masa and Haiming, husband and wife, filing jointly, earn $300,000 in salaries and $40,000 in capital gains for a total MAGI of $340,000.

How much in surtax will Masa and Haiming be assessed on their Form 1040 for 2016?

PART A – my original answers which are wrong

a. $250,000

b. 280,000-4050-12600 = 263350

c. 340000-4050-12600 = 323350

In 2016, Rosalva sold stock considered short-term for a gain of $1,345 and stock considered long-term for a loss of $4,370. She also had a $3,360 short-term loss carryover from 2015 and a $1,420 long-term loss carryover from 2014.

a. What amount will be shown as a short-term gain (loss) for 2016 = 2015

b. What amount will be shown as a long-term gain (loss) for 2016 = 5790

c. How much of the loss is deductible in 2016

d. What is the amount of long-term carryover to 2017 = 4805