Bernie and Becky are under age 65, file jointly and have 2 children, Vinnie, who is a college senior (age 24) and Veronica who is in middle school (age 12). They have the following income: Salary - Bernie - Federal Income Tax withheld = $ 50,000 $175,000 Dividends from IBM stock 10,000 Interest Income from NJ Bonds 5,000 Gambling winnings 20,000 Self Employed Consultant - Becky: Gross receipts 253,801 Deductible Business Expenses 200,000 Self-Employment Tax 7,602 Contribution to self-employed retirement plan 8,000 Alimony & child care paid by Bernie to former wife who he divorced in 2015 (50% for ex-wife and 50% for child) 24,000 Monmouth University tuition paid for Vinnie 50,000 Their personal deductions include: State Income Tax Real Estate Tax on their home Sales Tax on purchases during year including a boat Mortgage Interest on personal residence (balance = $800,000 borrowed in 2018) Charitable Contributions - Cash Non-cash - 50 shares of IBM valued at $100 per share at date of gift Tax Preparation Fees Unreimbursed Employee business expenses in connection with Joe's job Investment Management fees Losses from gambling 15,000 17,000 17,000 32,000 6,000 ? 2,200 2,000 10,000 10,000 Compute Bernie and Becky's Federal Income Tax for 2021 You are encouraged to work in groups. You are allowed to use software and/or consult your favorite CPA or other tax person. Solution can be submitted on plain paper or IRS forms. Extra credit for use of EXCEL lename