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Below is the only information I received for these questions. Please let me know if there is any additional info you may need. Any questions

Below is the only information I received for these questions. Please let me know if there is any additional info you may need. Any questions will help

Federal Taxation I Module 8: Comprehensive Tax Return Project

Jared and Ashley have come to you for help filing their 2018 tax return. They are married on December 31, 2018 and are both age 40. They live with their three qualifying children, Nick, Betty, and Roger, who are 12, 14, and 17 years old, respectively. They have made the following requests:

They wish to file a joint tax return.

If they overpaid their taxes this year, they would like to receive half as a refund and have half applied to next year's federal tax return.

Jared and Ashley have the following income items during 2018:

Jared's wages of $50,000

Jared's unemployment compensation of $5,000

Ashley's wages of $60,000

Interest from a city of Chicago bond of $2,000

Interest from a corporate bond of $3,000

Ordinary dividends of $2,000

Gift from Leonard's father of a new computer that cost $3,000

A $3,000 refund from the State of Illinois for income taxes paid in 2017

Jared and Ashley incurred the following expenses/losses during 2018:

Contributions of $5,500 to each of Jared and Ashley's traditional IRAs, i.e., $11,000 total (they are not covered by any other qualified retirement plans)

Qualified medical expenses of $9,000

Personal credit card interest expense of $8,000

Charitable contributions of $4,000

Ten $25 parking tickets totaling $250

Mortgage interest on primary residence of $8,000 (mortgage is $200,000)

Property taxes on the primary residence of $6,500

Illinois state and local income taxes paid of $5,500

Federal tax withholding on Jared and Ashley's W-2s of $10,000

They also provide you with the following information about their prior year return:

On their prior year federal tax return, they claimed itemized deductions. Jared and Ashley elected to have $139 of their 2017 tax refund applied to 2018.

Questions -

1) What is the AGI?

2) What is the medical deduction floor?

3) What is the allowable medical deduction?

4) What are the income taxes?

5) What is the total interest paid?

6) What is the cash given to charity ( when the total gifts is $4,000)?

7) What is the total itemized deductions?

8) What is the taxable income on ?

9) What amount is reported for tax ?

10) What amount is on the Child Tax Credit/Credit for other Dependents ?

11) What is the total credits ?

12) What is the federal income tax withheld from Forms w-2 and 1099?

13) what is the estimated tax payments and amount applied from prior year return?

14) What is the amount they owe?

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