EXHIBIT 8-10 2023 Earned Income Credit Table All taxpayers except married EXHIBIT 8-52023 AMT Exemptions Tax Rates for Net Capital Gains and Qualified Dividends purpose). Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse \begin{tabular}{|c|c|l|} \hline If taxable income is over: & But not over: & \multicolumn{1}{|c|}{ The tax is: } \\ \hline$0 & $22,000 & 10% of taxable income \\ \hline$22,000 & $89,450 & $2,200 plus 12% of the excess over $22,000 \\ \hline$89,450 & $190,750 & $10,294 plus 22% of the excess over $89,450 \\ \hline$190,750 & $364,200 & $32,580 plus 24% of the excess over $190,750 \\ \hline$364,200 & $462,500 & $74,208 plus 32% of the excess over $364,200 \\ \hline$462,500 & $693,750 & $105,664 plus 35% of the excess over $462,500 \\ \hline$693,750 & - & $186,601.5 plus 37% of the excess over $693,750 \\ \hline \end{tabular} Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2023, Sandy worked as a computer technician at a local university earning a salary of $154,500, and John worked part time as a receptionist for a law firm, earning a salary of $31,500. Sandy also does some Web design work on the side and reported revenues of $6,500 and assoclated expenses of $2,000. The Fergusons received $1,300 in qualified dividends and a $325 refund of their state income taxes. The Fergusons always itemize their deductions, get the full benefit of deducting the entire amount of state income taxes paid, and their itemized deductions were well over the standard deduction amount last year. Use Exhibit 8-10. Tax Rate Schedule. Dividends and Capital Gains Tax Rates, 2023 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $5,025. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $11,250 (divorced 12/31/2014). - Child support payments for Sandy's child with her former spouse of $4,350. - $12,450 of real property taxes. - John was reimbursed $725 for employee business expenses he incurred. He was required to provide documentation for the expenses to his employer. - $3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $16,500 interest on their home mortgage (\$400,000 acquisition debt). - $3,375 interest on a $45,000 home-equity loan. They used the loan to pay for a family vacation and new car. - $16,250 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair market value of $650 and cost $3,250. o. What is the Fergusons' 2023 federal income taxes payable or fefund, including any self-employment tax and AMT, if applicable? Note: Round your intermediate computations to the nearest whole dollar amount. EXHIBIT 8-10 2023 Earned Income Credit Table All taxpayers except married EXHIBIT 8-52023 AMT Exemptions Tax Rates for Net Capital Gains and Qualified Dividends purpose). Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse \begin{tabular}{|c|c|l|} \hline If taxable income is over: & But not over: & \multicolumn{1}{|c|}{ The tax is: } \\ \hline$0 & $22,000 & 10% of taxable income \\ \hline$22,000 & $89,450 & $2,200 plus 12% of the excess over $22,000 \\ \hline$89,450 & $190,750 & $10,294 plus 22% of the excess over $89,450 \\ \hline$190,750 & $364,200 & $32,580 plus 24% of the excess over $190,750 \\ \hline$364,200 & $462,500 & $74,208 plus 32% of the excess over $364,200 \\ \hline$462,500 & $693,750 & $105,664 plus 35% of the excess over $462,500 \\ \hline$693,750 & - & $186,601.5 plus 37% of the excess over $693,750 \\ \hline \end{tabular} Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2023, Sandy worked as a computer technician at a local university earning a salary of $154,500, and John worked part time as a receptionist for a law firm, earning a salary of $31,500. Sandy also does some Web design work on the side and reported revenues of $6,500 and assoclated expenses of $2,000. The Fergusons received $1,300 in qualified dividends and a $325 refund of their state income taxes. The Fergusons always itemize their deductions, get the full benefit of deducting the entire amount of state income taxes paid, and their itemized deductions were well over the standard deduction amount last year. Use Exhibit 8-10. Tax Rate Schedule. Dividends and Capital Gains Tax Rates, 2023 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $5,025. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $11,250 (divorced 12/31/2014). - Child support payments for Sandy's child with her former spouse of $4,350. - $12,450 of real property taxes. - John was reimbursed $725 for employee business expenses he incurred. He was required to provide documentation for the expenses to his employer. - $3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $16,500 interest on their home mortgage (\$400,000 acquisition debt). - $3,375 interest on a $45,000 home-equity loan. They used the loan to pay for a family vacation and new car. - $16,250 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair market value of $650 and cost $3,250. o. What is the Fergusons' 2023 federal income taxes payable or fefund, including any self-employment tax and AMT, if applicable? Note: Round your intermediate computations to the nearest whole dollar amount