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5. Please calculate the following questions. A married couple with 2 kids, married and filed jointly. W2 Salary 49800 earned income Dividend 50 Interest

5. Please calculate the following questions. A married couple with 2 kids, married and filed jointly. W2 Salary 49800 earned income Dividend 50 Interest 150 Traditional Ira contribution 6500 Standard deduction 25100 Itemized deduction 23300 The refundable child care credit 6000 The nonrefundable Child care credit 0 W2 withheld 4800 EIC? (you need to find out yourself) You can use 1040 form if you prefer. 1. What is the total income? 2. What is the AGI? 3. What is taxable income? 4. What is tax liability?

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