Question: CAN YOU PLEASE HELP ME COMPLETE THIS PROBLEM I TRIED A FEW OF THE EXPERTS ANSWER AND THEY CAME OUT WRONG. CAN YOU HELP Marc
CAN YOU PLEASE HELP ME COMPLETE THIS PROBLEM






I TRIED A FEW OF THE EXPERTS ANSWER AND THEY CAME OUT WRONG. CAN YOU HELP
Marc and Michelle are married and earned salaries this year of $67,600 and $13,350, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $950 from corporate bonds. Marc contributed $2.950 to a traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,950 (under a divorce decree effective June 1, 2006). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $3,000 child tax credit for Matthew. Marc and Michelle paid $6,900 of expenditures that qualify as itemized deductions (no charitable contributions) and they had a total of $3,130 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) .. What is Marc and Michelle's gross income? Answer is complete and correct. Amount Description Marc's salary Michelle's salary $ 67,600 13,350 Corporate bond interest 950 81,900 Gross income $ . What is Marc and Michelle's adjusted gross income? Answer is complete and correct. Adjusted gross income $ 77,000 What is the total amount of Marc and Michelle's deductions from AGI? X Answer is complete but not entirely correct. Total deductions from AGI $ 4,900 X . What is Marc and Michelle's taxable income? Answer is complete but not entirely correct. Taxable income $ 53,000 X What is Marc and Michelle's taxes payable or refund due for the year? * Answer is complete but not entirely correct. Refund due $ 151 X
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