Problem 10-37 (LO. 2, 3, 4, 5, 7, 8) Bart and Elizabeth Forrest are married and have no dependents. They have asked you to advise them whether they should file jointly or separately in 2018. They present you with the following information: Bart Elizabeth Joint Salary Business net income Interest income Deductions for AGI Medical expenses State income tax Real estate tax Mortgage interest Unreimbursed employee expenses $38,000 400 2,400 10,427 900 $110,000 1,200 14,000 3,358 1,800 $2,200 3,800 4,200 1,200 If they file separately, Bart and Elizabeth will split the real estate tax and mortgage interest deductions equally If an amount is zero, enter "O". Do not round your intermediate computations and round your final answers to the nearest dollar Complete the comparison table through AGI, then compute the total amount of the itemized deductions on the separate schedule before completing the remainder of the table Click here to access the 2018 tax rate schedule Total itemized deductions (MFS) or standard deduction (MFJ) Total deductions from AGI Taxable income Tax Savings from filing jointly: Tax filing separately Tax filing jointly Savings Complete the letter to Bart and Elizabeth. Problem 10-37 (LO. 2, 3, 4, 5, 7, 8) Bart and Elizabeth Forrest are married and have no dependents. They have asked you to advise them whether they should file jointly or separately in 2018. They present you with the following information: Bart Elizabeth Joint Salary Business net income Interest income Deductions for AGI Medical expenses State income tax Real estate tax Mortgage interest Unreimbursed employee expenses $38,000 400 2,400 10,427 900 $110,000 1,200 14,000 3,358 1,800 $2,200 3,800 4,200 1,200 If they file separately, Bart and Elizabeth will split the real estate tax and mortgage interest deductions equally If an amount is zero, enter "O". Do not round your intermediate computations and round your final answers to the nearest dollar Complete the comparison table through AGI, then compute the total amount of the itemized deductions on the separate schedule before completing the remainder of the table Click here to access the 2018 tax rate schedule Total itemized deductions (MFS) or standard deduction (MFJ) Total deductions from AGI Taxable income Tax Savings from filing jointly: Tax filing separately Tax filing jointly Savings Complete the letter to Bart and Elizabeth