Aman $($age $55)$ and Jazdeep $($age $48)$ are married. They have two children, Brianna $($age $20)$ and Ruchi $($age $12).$ Aman has total compensation $($before any deductions or exclusions$)$ of $$155,000,$ and Jazdeep has total compensation $($before any deductions or exclusions$)$ of $$275,000.$ Both are employees. Aman contributes $$20,000$ to his $401($k$).$ Jazdeep contributes $$20,000$ to her $401($k$).$ Jazdeep also purchases health insurance $($high deductible health plan$)$ for the family through her employers cafeteria plan. The annual health insurance premium she pays through the cafeteria plan is $$10,500.$ She also contributes the maximum amount to the familys Health Savings Account plan for $2023$ through the cafeteria plan. Jazdeep pays for an after$-$school program for Ruchi so that she and Aman can stay at work longer. The program costs $$5,000$ each year. Jazdeep put $$5,000$ of her pay into a Flexible Spending Account for Dependent Care to cover this expense.Brianna is a fulltime student. She has a full ride scholarship that covers the cost of her tuition, fees, and books. Aman and Jazdeep have purchased a car for Brianna and help pay her other living expenses, such as housing, her phone bill, health insurance, auto insurance, some clothes, gas, and other small things. Brianna lives with Aman and Jazdeep whenever she is not at school.Aman also contributed $$6,000$ to a Traditional IRA. Aman and Jazdeep also had $$10,000$ of long$-$term capital gains.What is their net tax liability, after credits, for $2023?$

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Answer To calculate the net tax liability for Aman and Jazdeep in 2023 we need to consider the follo... View the full answer