Comprehensive Problem $4-56($LO $4-1,$ LO $4-2,$ LO $4-3)($Static$)$

$[$The following information applies to the questions displayed below.$]$

Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $$64,000$ and $$12,000,$

respectively. In addition to their salaries, they received interest of $$350$ from municipal bonds and $$500$ from corporate

bonds. Marc contributed $$2,500$ to a traditional individual retirement account, and Marc paid alimony to a prior spouse in

the amount of $$1,500($under a divorce decree effective June $1,2006).$ Marc and Mikkel have a $10-$year$-$old adopted son,

Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $$2,000$ child tax

credit for Mason. Marc and Mikkel paid $$6,000$ of expenditures that qualify as itemized deductions, and they had a total of

$$2,500$ in federal income taxes withheld from their paychecks during the year. $($Use the tax rate schedules.$)$

Schedule Y$-1-$Married Filing Jointly or Qualifying surviving spouse

a$.$ What is Marc and Mikkel's gross income?

b$.$ What is Marc and Mikkel's adjusted gross income? $72000$ is the right answer

c$.$ What is the total amount of Marc and Mikkel's deductions from AGI? $4000$ was not te correct answer

d$.$ What is Marc and Mikkel's taxable income?

e$.$ What is Marc and Mikkel's taxes payable or refund due for the year?

the last "expert" answered every question incorrectly