Explain your answer as necessary and be sure your calculations are clearly shown.

Jack and Jill are a married couple with two young children. 

Jack earns a salary of $65,000, and had federal income tax withheld of $3,500. 

Jill has income of $22,200 from a flow-through entity; it qualifies as QBI but is not subject to FICA tax. 

They also have interest income of $550, and itemized deductions of $17,980.

Required:

Compute the refund or balance due on a 2020 joint return.