Jennifer and Jason Greco are married and file a joint tax return. Their two dependent children (Jim, age 14 and Jessica, age 16); both live at home. The Grecos have the following income and expenses:

Income:
Jennifer’s salary .........................................................................................................$120,000
Jason’s net profit from his consulting sole proprietorship (which paid
$30,000 in W-2 wages)
.......................................................................................................................................148,000
Interest income on State of Texas bonds ..................................................................10,000
Interest income on corporate bonds .........................................................................12,000
Cash dividends ..............................................................................................................19,000
Long-term capital gain from sale of stock ..................................................................70,000
Expenses:
Interest on the $850,000 principal from their home acquisition mortgage
(acquired in 2018)
...........................................................................................................................................48,000
Real property taxes on their home ..............................................................................11,000
Charitable contributions to their church ....................................................................49,000
Federal income tax withheld from Jennifer’s salary ..................................................35,000
Estimated federal tax payments for this year ...........................................................20,000

a. What is their adjusted gross income and taxable income for 2018?
b. What is their net tax due or refund expected for 2018?