Required information Comprehensive Problem 8-85 (LO 8-1, LO 8-2, LO 8-3, LO 8-4, LO 8-5) (The following information applies to the questions displayed below.) John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2019, John worked as a computer technician at a local university earning a salary of $154,000, and Sandy worked part-time as a receptionist for a law firm earning a salary of $31,000. John also does some Web design work on the side and reported revenues of $6,000 and associated expenses of $1,750. The Fergusons received $1,200 in qualified dividends and a $300 refund of their state income taxes. The Fergusons always itemize their deductions and their itemized deductions were well over the standard deduction amount last year. The Fergusons had qualifying insurance for purposes of the Affordable Care Act (ACA). Use Exhibit 8-9. Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. The Fergusons reported making the following payments during the year. State income taxes of $4,900. Federal tax withholding of $21,000. Alimony payments to John's former wife of $11,000 (divorced in 2014). Child support payments for John's child with his former wife of $4,300. $12,400 of real property taxes. Sandy was reimbursed $700 for employee business expenses she incurred. She was required to provide documentation for her expenses to her employer. $3,600 to Kid Care day care center for Samantha's care while John and Sandy worked. $16,000 interest on their home mortgage ($400,000 acquisition debt). $3,300 interest on a $44,000 home-equity loan. They used the loan to pay for a family vacation and new car. $16,000 cash charitable contributions to qualified charities. Donation of used fumiture to Goodwill. The furniture had a fair market value of $600 and cost $3,000. . . . . Comprehensive Problem 8-85 Part a a. What is the Fergusons' 2019 federal income taxes payable or refund, including any self-employment tax and AMT, if applicable? (Round your intermediate computations to the nearest whole dollar amount.) Prev 1 of 8 !!! Next > Required information Problem 8-70 (LO 8-4) (The following information applies to the questions displayed below.) Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-a a. His AGI is $107,300. Amount of child tax credit Required information Problem 8-70 (LO 8-4) [The following information applies to the questions displayed below.) Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-b b. His AGI is $420,500 Amount of child tax credit ! Required information Problem 8-70 (LO 8-4) [The following information applies to the questions displayed below.) Trey has two dependents, his daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters under each of the following alternative situations? Use Exhibit 8-8. Problem 8-70 Part-c c. His AGI is $421,100, and his daughters are ages 10 and 12. Amount of child tax credit of 3 Required information Problem 8-50 (LO 8-1) [The following information applies to the questions displayed below.) Lacy is a single taxpayer In 2019, her taxable income is $41,200. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates. Estates and Trusts for reference. (Do not round Intermediate calculations, Round your answer to 2 decimal places.) 2:19:44 Problem 8-50 Part-a ook a. All of her income is salary from her employer, Tax liability rences