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5. Sarah and Malik are married and filing jointly. In 2018, Sarah earned $54,000 in wages, Malik earned $48,000 in wages, and they earned $2,600
5. Sarah and Malik are married and filing jointly. In 2018, Sarah earned $54,000 in wages, Malik earned $48,000 in wages, and they earned $2,600 in interest from a savings account. They have deposited $4,500 in a tax deferred savings plan, and have $28,500 in itemized deductions. **Please use the 2018 tax table from the notes/MOM. a. (1 pt) What is their gross income? b. (1 pt) What is their adjusted gross income? C. (2 pts) What is their taxable income? d. (3 pts) What are their taxes from the tax table? e. (2 pts) If they together had $13,100 withheld, and have $1,400 in credits, will they owe money or receive a refund? Be sure to show the calculation and amount the owe/receive
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