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During 2017, Marc and Michelle are married and earned salaries this year of $60,000 and $15,000, respectively. In addition to their salaries, they received interest

During 2017, Marc and Michelle are married and earned salaries this year of $60,000 and $15,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc and Michelle also paid $3,000 of qualifying moving expenses, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $1,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $5,500 in federal income taxes withheld from their paychecks during the course of the year. What is Marc and Michelles taxable income? And what is Marc and Michelles taxes payable or refund due? (Enter a refund due as a negative)

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