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During 2017, Jonathan and Mary Brown, 111-11-1111 and 222-22-2222, who are married and have two dependent children, Elise 10 333-33-3333, and Robyn, 444-44-4444, have the
During 2017, Jonathan and Mary Brown, 111-11-1111 and 222-22-2222, who are married and have two dependent children, Elise 10 333-33-3333, and Robyn, 444-44-4444, have the following income and losses: Jonathan salary Mary salary Federal withholding City of Baltimore interest Farmer's Bank account interest Bilew dividends (ordinary) Short-term capital gains Short-term capital losses Rental house income $100,000 60000 25650 350 25,000 4,000 8000 9600 They also incurred the following expenses: Qualified medical expenses State income taxes paid Property taxes on home Qualified residence interest Cash charitable contributions Tax return preparation fees and assistance with audit 3,60(0 Rental house expenses $ 8,000 12,000 2,300 9,000 15,000 Mortgage interest Real estate taxes Repairs Depreciation 1200 600 500 1000 Compute Jonathan and Mary's taxable income for the year. (Show all calculations in good form.)
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