Question
Cyclops and Jean Grey have calculated their taxable income to be $178,000 for 2020, which includes $9,000 of net long-term capital gains. They also made
Cyclops and Jean Grey have calculated their taxable income to be $178,000 for 2020, which includes $9,000 of net long-term capital gains. They also made $28,000 of estimated payments for 2020. What is their tax due or refund assuming they are married and file a joint return and have no dependents.Tax Due or Refund (label which it is)?
Rogue and Gambit filed jointly in 2020. Their AGI is $195,000. They reported a $5,000 qualified business income deduction and $29,500 of itemized deductions. They had $28,950 withheld for federal withholding by their employers. They also have one dependent qualifying child under age 17. What is their tax due or refund on their 2020 tax return?Tax Due or Refund (label which it is)?
Please show your work.
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