Explain your answer as necessary and be sure your calculationsare clearly shown.

Jack and Jill are a married couple with two young children. Jackearns a salary of $65,000, and had federal income tax withheld of$3,500. Jill has income of $22,200 from a flow-through entity; itqualifies as QBI but is not subject to FICA tax. They also haveinterest income of $550, and itemized deductions of$17,980.Required: Compute the refund or balance due on a 2020 jointreturn.