Alfred and Beulah received taxable interest income of $$500.$ Alfred and Beulah received a $$1,900$ refund on their $2021$ state income taxes; they claimed the standard deduction on their $2021$ Federal income tax return. Alfred and Beulah paid $$4,500$ interest and $$1,450$ property taxes on their personal residence in $2022.$ They paid sales taxes of $$1,400,$ for which they maintain the receipts. Alfred and Beulah have never owned or used any digital assets, and they do not want to contribute to the Presidential Election Campaign. Compute the Olds' net tax payable $($or refund due$)$ for $2022.$ Use Form $1040$ and Schedule $1$ to complete this tax return.

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To compute Alfred and Beulahs net tax payable or refund due for 2022 we will need to use Form 1040 a... View the full answer