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$3.$ Significant Self$-$Employment Income

Wages: Sarah $($$$30,000),$ James $($$$24,000)$

Interest Income: $$700$

Dividend Income: $$300$

Long$-$term capital gains: $$1,100$

QBI $($sole proprietorship$)$: Sarah $($$$88,000)$

Itemized Deductions:

Medical Expenses: $$4,500$

State and Local Taxes: $$7,000$

Charitable Contributions: $$1,700$

Allowable deduction for self$-$employment tax: $$7,100$

Calculate: AGI, Taxable Income, Potential Child Tax Credits, Total Tax Liability $($Before any other credits$)$

$4.$ Investment Income Variations

Wages: Robert $($$$63,000),$ Laura $($$$55,000)$

Interest Income: $$500$

Dividend Income: $$3,200($qualified dividends$)$

Long$-$term capital gains: $$7,000$

QBI $($sole proprietorship$)$: None

Itemized Deductions:

Medical Expenses: $$2,800$

State and Local Taxes: $$10,200$

Charitable Contributions: $$3,800$

Allowable deduction for self$-$employment tax: None

Calculate: AGI, Taxable Income, Potenti

$***$This question already posted and received correct answer. Kindly Don't answer this question again. If you answer i will give $19$ dislikes.$****$al Child Tax Credits, Total Tax Liability $($Before any other credits$)$