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Calculate the AGI, Taxable income and Tax Liability for 2023 for Samantha age 63 and Bob age 65 who are married filing jointly and have
Calculate the AGI, Taxable income and Tax Liability for 2023 for Samantha age 63 and Bob age 65 who are married filing jointly and have the following income and expenses. ( 6 points) Salary $148,000 Qualified Dividend Income $2,000 Interest from M\&T bank $210 Interest from US Savings Bonds $2,225 Interest from State of New Jersey bonds $330 Loss on sale of personal auto ($2,400) Loss on sale of section 1244 stock held for 3 years ($50,000) Net rental income $4,250 Contribution to IRA $6,000 (Neither Samantha or Bob have a pension plan at work) Gambling Losses ($3,500)
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