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1. Amal and Reyes are married filing jointly. Their combined salaries are $135,000. They also have savings interest of $245 and they put $3200 (pre-tax
1. Amal and Reyes are married filing jointly. Their combined salaries are $135,000. They also have savings interest of $245 and they put $3200 (pre-tax savings) in their retirement fund. a. Calculate the couple's adjusted gross income (AGI). [2 points) b. Their itemized deductions are $18,500. State whether they should take the itemized or standard deduction and the amount. [1 point] C. Calculate their taxable income. [2 points) d. Use the 2018 tax tables to calculate the taxes they owe. [2 points] e. During the year, a total of $17,829 was deducted from their paychecks. When they file their taxes will they owe money or get a refund? What is the amount? [1 point]
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