(3 points) Mol and Tera are married and file jointly for 2020. They earned $125,000 in total salaries together for the year working for an architecture and construction firm. They moved across the country when Tara was offered a new job opportunity within the company this year, incurring $7,000 in moving expenses. The moving expenses were not reimbursed by their employer. As part of the move, Mel and Tara had to sell their house this year. They had purchased the home in 2014 and after making some improvements to the home its adjusted tax basis at the time of salo was $320,000. They sold it for $560,000. They also paid $1,700 in interest on loans Mel took out to pay for his tuition and fees as an undergraduate architecture major. After the move, Mel had some health issues which required the couple to pay $15,000 in medical expenses (part for health insurance premiums and part deductibles and other out-of-pocket expenses for hospital care) Ignoring your answer to Parts 1 and 2 and instead assuming the total amount of itemized deductions Mel and Tara could claim was $32,000, will Mel and Tara choose to itemize or take the standard O. Mel and Tara will take the chandand dedoction for the yem Os Mel and Tara will itemize for the year O.C. Neither. Mel and Tars are not able to claim any deductions below the lise for the your (3 points) Mel and Tara are married and the jointly for 2020. They earned $125,000 in total salaries together for the year working for an architecture and construction firm. They moved across the country when Tara was offered a new job opportunity within the company this year, incurring $7,000 in moving expenses. The moving expenses were not reimbursed by their employer. As part of the move, Mel and Tara had to sell their house this year. They had purchased the home in 2014 and after making some improvements to the home its adjusted tax basis at the time of salo was $320,000 They sold it for $560,000. They also paid $1,700 in interest on loans Mel took out to pay for his tuition and fees as an undergraduate architecture major. After the move, Mel had some health issues which required the couple to pay $15,000 in medical expenses (part for health insurance premiums and part deductibles and other out-of-pocket expenses for hospital care) Ignoring your answers for Parts 1-3 and instead assuming taxable income is $45,000, the amount of taxes due for Mel and Tara in 2020 is: 55.690 Ch.19,900 O Nour of the saswen given bere CL55,400 (3 points) Mol and Tera are married and file jointly for 2020. They earned $125,000 in total salaries together for the year working for an architecture and construction firm. They moved across the country when Tara was offered a new job opportunity within the company this year, incurring $7,000 in moving expenses. The moving expenses were not reimbursed by their employer. As part of the move, Mel and Tara had to sell their house this year. They had purchased the home in 2014 and after making some improvements to the home its adjusted tax basis at the time of salo was $320,000. They sold it for $560,000. They also paid $1,700 in interest on loans Mel took out to pay for his tuition and fees as an undergraduate architecture major. After the move, Mel had some health issues which required the couple to pay $15,000 in medical expenses (part for health insurance premiums and part deductibles and other out-of-pocket expenses for hospital care) Ignoring your answer to Parts 1 and 2 and instead assuming the total amount of itemized deductions Mel and Tara could claim was $32,000, will Mel and Tara choose to itemize or take the standard O. Mel and Tara will take the chandand dedoction for the yem Os Mel and Tara will itemize for the year O.C. Neither. Mel and Tars are not able to claim any deductions below the lise for the your (3 points) Mel and Tara are married and the jointly for 2020. They earned $125,000 in total salaries together for the year working for an architecture and construction firm. They moved across the country when Tara was offered a new job opportunity within the company this year, incurring $7,000 in moving expenses. The moving expenses were not reimbursed by their employer. As part of the move, Mel and Tara had to sell their house this year. They had purchased the home in 2014 and after making some improvements to the home its adjusted tax basis at the time of salo was $320,000 They sold it for $560,000. They also paid $1,700 in interest on loans Mel took out to pay for his tuition and fees as an undergraduate architecture major. After the move, Mel had some health issues which required the couple to pay $15,000 in medical expenses (part for health insurance premiums and part deductibles and other out-of-pocket expenses for hospital care) Ignoring your answers for Parts 1-3 and instead assuming taxable income is $45,000, the amount of taxes due for Mel and Tara in 2020 is: 55.690 Ch.19,900 O Nour of the saswen given bere CL55,400