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Blake and Valerie Meyer (both age 30) are married with one dependent child (age 5). Blakes gross salary from his corporate employer was $70,000, and

Blake and Valerie Meyer (both age 30) are married with one dependent child (age 5).

Blakes gross salary from his corporate employer was $70,000, and his Section 401(k) contribution was $6,300.

Valeries salary from GuiTech, an S corporation, was $29,400.

Valerie owns 16 percent of GuiTechs outstanding stock. Her pro rata share of GuiTechs ordinary business income was $13,790, her pro rata share of GuiTechs net loss from rental real estate was $8,100, and she received a $7,000 cash distribution from GuiTech.

Blake received a $12,000 cash gift from his grandmother.

Valerie won $6,400 in the Maryland state lottery.

The Meyers received a distribution from their investment in Pawnee Mutual Fund that consisted of a $712 qualifying dividend and a $3,020 long-term capital gain.

Blake paid $12,000 alimony to a former spouse.

The Meyers paid $14,200 home mortgage interest on acquisition debt and $2,780 property tax on their personal residence.

The Meyers paid $7,000 state income tax and $4,200 state and local sales tax.

Valerie contributed $1,945 to the First Baptist Church.

On the basis of the above information, compute the Meyers federal income tax (including any AMT) on their joint return. Assume the taxable year is 2017. Use Individual tax rate schedules and Standard deduction table. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

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