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Calculate tax liability for Nellie and Niles Nelson for 2020. The Nelsons file Married Joint: Salary $300,000 T Bill interest $20,000 Apple Dividends $10,000 Qualified
Calculate tax liability for Nellie and Niles Nelson for 2020. The Nelsons file Married Joint: Salary $300,000 T Bill interest $20,000 Apple Dividends $10,000 Qualified Sole proprietorship income $100,000 Long term Capital Gains $60,000 Contribution to health savings account $1,000 Contribution to Individual Retirement Account. $2,000 State Income Taxes $20,000 Medical Expenses $60,000 Mortgage Interest $50,000. The $4,000,000, mortgage was signed in 2020. Charitable Contributions $30,000
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