$*****$

Tax Information for the Parkers for $2023$:

Wages: Sarah $($$$80,000),$ James $($$$65,000)$

Interest Income: $$1,800$

Dividend Income: $$700$

Long$-$term capital gains: $$4,200$

Qualified Business Income $($QBI$)$ from Sarah's sole proprietorship: $$50,000$

Itemized Deductions: Medical Expenses: $$7,200,$ State and Local Taxes: $$10,500,$ Charitable Contributions: $$3,000$

Allowable deduction for self$-$employment tax: $$3,500$

Calculate Sarah and James's:

Adjusted Gross Income $($AGI$)$

Taxable Income

Potential Child Tax Credits

Total Tax Liability $($Before any other credits$)$