Charles is a 60% partner in CD Partnership, a calendar year partnership. For 2018, Charles received a Schedule K-1 that reported his share of

Partnership ordinary income	$105,000
Tax-exempt income	1,000
Qualified dividend income	3,000
Short-term capital loss	20,000
Sec. 1231 loss	17,000
Charitable contributions	2,000
Cash distribution	60,000
Guaranteed payment	40,000

In addition, Charles and his wife, Charlene, had the following items relating to activities outside the partnership:

Charlene's salary	$80,000
Long-term capital gain	49,000
Interest income from corporate bonds	5,000
Mortgage interest expense	12,000
State income taxes	8,000
Property taxes on home	3,000
Charitable contributions	5,500
Withholding on Charlene's salary	18,000
Estimated tax payments (paid one-fourth on each of the quarterly due daces)	24,000

Charles and Charlene have two dependent children, ages 7 and 9, and file a joint tax return. Calculate the following items for Charles and Charlene. (Ignore the deduction for one-half of self-employment tax.)
a. Adjusted gross income (AGI)
b. Taxable income
c. Tax liability
d. Taxes due or refund