Calculate the Taxable Income for the Smiths John and Ida Smith are married taxpayers who file a joint return. John's birthday is September 21, 1972 and Ida's is June 26, 1971. Ida is a office manager for Smile Dental Clinic and John is a manager of Great Burgers fast-foo outlet owned and operated by Boston Corporation. The following is shown on their W-2 for 2021: Ida John Wages 58,000 62,100 Federal Income Tax withheld 4,500 5,300 Social security Wages 58,000 62,100 Social Security tax withheld 3,596 3,850 Medicare Wages 58,000 62,100 Medicare withheld 841 900 State income taxes withheld 2,950 3,100 The Smiths provide over half of the support of their two children Cindy born January 25, 1995 and Mike bom February 7,1999. Both students are full time students and live with the Smiths except when in college. During 2021 the Smiths provided 60% of the total support of John's widower father Sam Smith. Sam lived alone and covered the rest of his support with social security benefits. Sam died in November and John received the beneficiary pf the policy on Sam's life insurance proceeds of $1,600,000 on December 29. The Smiths had the following expenses relating to their personal residence during 2021: Property taxes $5,000 Mortgage Interest 8,700 Roof repairs 5, 750 Utilities 4,100 Fire and theft insurance 1,900 Medical Expenses: Medical insurance $4,500 Doctor bills for Sam 7,600 Operation for Sam 8,500 Prescriptions for Sam 900 Hospital bill Sam 3,500 Reimbursements for insurance 3,600 Other information: State refund $900 Police Disability Charity contributions $50 Church contributions 5,000 Salvation Army Clothing contribution cost 1200, Market value $350 Interest Income $2,750