Using tax form $1040$ and supplemental forms give an example for solving:Demarco and Janine Jackson have been married for $20$ years and have four children who qualify as their dependents $($Damarcus$,$ Jasmine, Michael, and Candice$).$ The Jacksons file a joint tax return. The couple received salary income of $$105,000$ and qualified business income of $$10,000$ from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $$200,000,$ and they sold it for $$250,000.$ The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $$16,500$ of

itemized deductions, and they had $$4,000$ withheld from their paychecks for federal taxes. They are also allowed to claim a child tax credit for each of their children. However, because Candice was $18$ years of age at year end, the Jacksons may claim a child tax credit for other qualifying dependents for Candice.

Note the following dates of birth for the children $$

$$ Damarcus $01/01/2014$

$$ Jasmine $01/01/2010$

$$ Michael $01/01/2020$

$$ Candice $01/01/2005$

Using TaxAct Software, prepare the Jacksons$2023$ tax return.