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Don and Jamie have been married for 20 years and have 4 children who qualify as their dependents. The couple has a salary income of

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Don and Jamie have been married for 20 years and have 4 children who qualify as their dependents. The couple has a salary income of $100,000 and qualified business income of $10,000 from an investment in a partnership. They also sold their home this year. They purchased the home three years ago for $200,000 and sold it for $250,000. The gain on the sale qualified for the exclusion from the sale of a principal residence. They incurred $16,500 of itemized deductions and they had $3,550 withheld from their paychecks for federal taxes. They are allowed to claim a child tax credit for each of their children. However, one is 18 years old, so they may claim a child tax credit for other qualifying dependents for that child. Complete the first two pages of the form 1040 of the year 2018. Don and Jamie have been married for 20 years and have 4 children who qualify as their dependents. The couple has a salary income of $100,000 and qualified business income of $10,000 from an investment in a partnership. They also sold their home this year. They purchased the home three years ago for $200,000 and sold it for $250,000. The gain on the sale qualified for the exclusion from the sale of a principal residence. They incurred $16,500 of itemized deductions and they had $3,550 withheld from their paychecks for federal taxes. They are allowed to claim a child tax credit for each of their children. However, one is 18 years old, so they may claim a child tax credit for other qualifying dependents for that child. Complete the first two pages of the form 1040 of the year 2018

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