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Alex and Addison are married and have the following income items: Alexs salary$ 57,000Addisons Schedule C net profit31,700Interest income2,400 Addisons self-employment tax was $4,479. Addison's
Alex and Addison are married and have the following income items:
Alexs salary$ 57,000Addisons Schedule C net profit31,700Interest income2,400Addisons self-employment tax was $4,479. Addison's Schedule C net business profit is qualified business income (non-service). The couple have $10,270 itemized deductions and no children or other dependents.
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Compute their income tax on a joint return. Assume the taxable year is 2022. Use Individual Tax Rate Schedules and Standard Deduction Table.
Note: Round your intermediate calculations and final answers to the nearest whole dollar amount.
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