Demarco and Janine Jackson have been married for $20$ years and have four children who qualify as their dependents

$($Damarcus$,$ Jasmine, Michael, and Candice$).$ The Jacksons file a joint tax return. The couple received salary income of

$$93,500$ and qualified business income of $$21,500$ from an investment in a partnership, and they sold their home this

year. They initially purchased the home three years ago for $$257,500$ and they sold it for $$307,500.$ The gain on the sale

qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $$18,800$ of itemized deductions,

and they had $$4,000$ withheld from their paychecks for federal taxes. They are also allowed to claim a child tax credit for

each of their children. However, because Candice was $18$ years of age at year end, the Jacksons may claim a child tax

credit for other qualifying dependents for Candice. $($Use the tax rate schedules.$)$

Comprehensive Problem $4-57$ Parts$-$c through f$($Algo$)$

Required:

c$.$ What would their taxable income be if their itemized deductions totaled $$30,300$ instead of $$18,800?$

d$.$ What would their taxable income be if they had $$0$ itemized deductions and $$10,600$ of for AGI deductions?

e$.$ Assume the original facts but now suppose the Jacksons also incurred a loss of $$6,150$ on the sale of some of their investment

assets. What effect does the $$6,150$ loss have on their taxable income?

f$.$ Assume the original facts but now suppose the Jacksons own investments that appreciated by $$10,000$ during the year. The

Jacksons believe the investments will continue to appreciate, so they did not sell the investments during this year. What is the

Jacksons' taxable income?