Using the married filing jointly status and their income and expense statement, calculate the 2017 tax liability for Shameka and Curtis Williams. First, use the standard deduction, and then use the following itemized deductions:

Income			Expenses
Earned income	$49,000.00		Home mortgage interest	$7,800.00
Interest income	1,700.00		Real estate and state income taxes	3,800.00
			Miscellaneous deductions	750.00

Explain to Williams which method they should use and why.

Shameka and Curtis' total gross income for the 2017 tax year is $nothing.

Assuming Shameka and Curtis are filing jointly, their exemption amount for the 2017 tax year is $nothing. 

If Shameka and Curtis use the standard deduction, their standard deduction amount for the 2017 tax year is $nothing.

Answer rating: 100% (QA)

Amounts are in 1 Gross Total Income Earned Income 49000 Interest Income 1700 Gross Total Income 5070... View the full answer