Question: Comprehensive Problem. From the following information determine the total 2016 tax due for Charlene and Dick Storm, assuming they file a joint return, have three

Comprehensive Problem. From the following information determine the total 2016 tax due for Charlene and Dick Storm, assuming they file a joint return, have three dependents, and are not members of a qualified retirement plan.

Dick's wages= 33,000

Charlene's Wage= 41,000

Dick's Compensation to an IRA= 2,000

Charlene's Compensation to an IRA= 800

Charlene's self-employment income= 12,000

Tax Preference Items= 40,000

General Business Credit= 7,000

Housing Interest= 8,000

Consumer Interest= 2,000

Property Taxes= 3,000

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