2. Gabe and Alex are married, file jointly for the tax year, and had $150,000 of wages in total for the year. They have one daughter, Gabriella, who is 10 years old that lives with them. They moved across the country this year as part of a career change for Alex and incurred $6,000 in moving expenses that were not reimbursed by Alexs employer. They sold their family car for $15,000 less than what they originally paid for it. They sold three stocks (A, B, and C) during the year, which had all been held for 4 years. Stocks A and B were sold for a $5,000 loss each, and stock C was sold at a $5,000 gain. Throughout the tax year, they had $12,000 in expense renting their own place to live. A) Determine their for AGI deductions for this year (if any). B) Determine their AGI. C) Determine the amount of itemized deductions they could take for this year (if any). D) If the standard deduction they could claim for the year is $24,000, will they itemize or take the standard deduction? (on the exam, I would give you the standard deduction schedule to print in advance and you would determine by filing status what standardized deduction to compare with) E) Assume a 25% tax rate for ordinary taxable income (on the exam, youll print the individual tax rate schedules in advance to select from). In addition, assume AMT does not apply, and they have no tax credits. Their employers withheld $35,000 in tax for them during the tax year. How much did they owe in tax (receive in refund) for the year