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Demarco and Janine Jackson have been married for 2 0 years and have four children ( no children under age 6 at year - end
Demarco and Janine Jackson have been married for years and have four children no children under age at yearend who qualify as their dependents Damarcus Jasmine, Michael, and Candice The couple received salary income of $ and qualified business income of $ from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $ and they sold it for $ The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $ of itemized deductions, and they had $ 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 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. Schedule YMarried Filing Jointly or Qualifying Widower If taxable income is over: But not over: The tax is: $ $ of taxable income $ $ $ plus of the excess over $ $ $ $ plus of the excess over $ $ $ $ plus of the excess over $ $ $ $ plus of the excess over $ $ $ $ plus of the excess over $ $ $ plus of the excess over $Required information For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions. Cat. NoB Form
Demarco and Janine Jackson have been married for years and have four children no children under age at yearend who qualify as their dependents Damarcus Jasmine, Michael, and Candice The couple received salary income of $ and qualified business income of $ from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $ and they sold it for $ The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $ of itemized deductions, and they had $ 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 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. Schedule YMarried Filing Jointly or Qualifying Widower
If taxable income is over: But not over: The tax is:
$ $ of taxable income
$ $ $ plus of the excess over $
$ $ $ plus of the excess over $
$ $ $ plus of the excess over $
$ $ $ plus of the excess over $
$ $ $ plus of the excess over $
$ $ plus of the excess over $Required information
For Disclosure, Privacy Act, and Paperwork Reduction Act Notice, see separate instructions.
Cat. NoB Form
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