ACC 423 Individual Income Tax NAME: Exit Drill Marvin, age 47, and Joanne age 36 are married. They have three dependents, Johnny, age 10, Mary, age 13, and Susie 18, a full-time student who lived with them all year. Their itemized deductions total 20,400. This figure does not include the gambling losses of $8,000 for the year. They incurred a capital . loss of $4,500 from the sale of FaceBook stock. They want to file a joint 2017 Federal Income Tax return Their income is as follows: Marvin- 1) Wages from employment $60,500 with $8,000 income tax withholdings 2) Interest on City of Jackson Municipal Bonds $1,200 3) Non-qualified dividends $4,000 Joanne - 1) Wages from employment $20,000 with $1,500 income tax withholdings 2) Gambling winnings $3,000 3) Interest from Regions Bank $85 Compute, in detail, a) the adjusted gross income, b) the taxable income and c) the 2017 income tax and d) indicate the amount, if any, of refund or taxes due