Question
Calculate Daniela and Fernandos2023 tax due/refundbased on the following. Daniela and Fernando are married and filing jointly.They have three children, son Mark (age 10), son
Calculate Daniela and Fernandos2023 tax due/refundbased on the following.
Daniela and Fernando are married and filing jointly.They have three children, son Mark (age 10), son Keith (age 5), and adopted daughter Lisa (age 3). During the year, Fernando earned a salary of $90,000 and Daniela earned a salary of $305,000. Their employers withheld $20,000 and $70,000 of federal income tax, respectively. They also have qualified dividend income of $20,000 from various stock holdings and interest income from a municipal bond of $1,500. They have total itemized deductions of $32,000.
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