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Channing and Jenna Tatum, a married couple with two daughters (one age 12, and the other is 19 and a sophomore in college), have

Channing and Jenna Tatum, a married couple with two daughters (one age 12, and the other is 19 and a sophomore in college), have income, expenses, and other expenditures for the year as follows. They file a joint return. Salaries ($35,000 and $40,000) Income from a partnership interest Prizes won on Wheel of Fortune Interest income from: Bank account County of Maricopa bonds Illegal income Inheritance received Gift from parent Contribution to Roth I.R.A. Diamondbacks season tickets Food Interest expense on car loan Interest expense on home mortgage Property taxes paid. Charitable contributions Tuition and books for GCC Federal income tax withheld State income tax withheld $75,000 5,000 8,000 1,800 2,000 6,000 40,000 10,000 5,000 4,400 5,000 1,200 7,000 2,000 3,500 4,200 6,000 2,100 Compute the amount of: a) taxable income, b) income taxes, and c) amount of tax to be paid (refunded)

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