Calculating taxable income for a married couple filing jointly. Freya and Sebastian Hunter are married and have one child. Sebastian is putting together some figures so he can prepare the Hunters’ joint 2018 tax return. So far, he’s been able to determine the following concerning income and possible deductions:

Given this information, determine the amount of the available itemized deductions. How much taxable income will the Hunters have in 2018? (Note: Assume that Sebastian is not covered by a pension plan where he works, his child qualifies for the child tax credit, and the standard deduction of $24,000 for married filing jointly applies.) LO1

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Total unreimbursed medical expenses incurred $1,155 Gross wages and commissions earned 50,770 IRA contribution 5,000 Mortgage interest paid 5,200 Capital gains realized on assets held less than 12 months 1,450 Income from limited partnership 200 Interest paid on credit cards 380 Qualified dividend income earned Sales taxes paid 610 2,470