Douglas and Sherrie are married and have three qualifying dependent children, Matthew (age 22), Sarah (age 19) and Reynolds (age 15). Matthew and Sarah are currently full time students at the University of Alabama, while Reynolds is a sophomore in high school and lives at home. Douglas works as an engineer for a large commercial construction company, and Sherrie is self-employed as an architect and manages her business from their home. Neither Douglas nor Sherrie is blind or over age 65, and they plan to file jointly. Douglas and Sherrie are entitled to claim a child tax credit in the amount of $3,000 for the three children.
Douglas' salary	115,000
Sherrie’s architect business income (sole proprietor)	9,300
Federal income tax withheld from Douglas' wages	10,000
State income tax withheld from Douglas' wages	4,600
Social Sec. & Medicare tax withheld from Douglas' wages	8,798
Real estate tax on residence	6,175
State sales tax paid	2,565
Home mortgage interest	14,250
Interest on personal credit card	2,100
Medical expenses (unreimbursed)	895
Gambling losses	1,700
Sherrie’s business expenses (sole proprietor)	-4,100
Self-employment tax on Sherrie’s income	736
Cash contribution to the United Way	400
Matthew and Sarah's room and board at college	12,400
Interest on student loans to pay Matthew's and Sarah’s tuition	4,800
Contribution to a Traditional IRA account	3,000
Stock contribution to church (basis=1,500)	3,200	***(FMV); Owned for 5 years

what is the agi and taxable income for them?

Answer rating: 100% (QA)

AGI Douglas salary Sherries architect business income sole propriet... View the full answer