Federal Tax question, help me answer it please!
I Chart a+ Screenshot ctures Online Shapes Icons My Add-ins Wikipedia Online Pictures Video Media llustrations 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 Add-ins . Harry and Karla had the following information relating to their 2016 taxes: .They have been married for 1l years and have two children together. 1. Harry wages were 26,000 and Karla received 46,000 2 They had total interest inconne of $600 of which S50 was receved from mura bonds, #3. They incurred paid the during the year Karla paid alimony of $6,000 former spouse, Ted e She paid $3,000 to Ted Day Care for the care of their son, Arnold, whuile they are working Medical espenses totaled $8,500, nsurance reimbursed them for $1,500 Charitable contributi ons of $3,800 to their church. Contributions to traditional IRA: Harry $5,000 and Karla $4,000e Mortgage interest on their resadence of $7,000. Property tazes on her residence of $1,500. e State income taazes withheld from their wages was $3,500 (Harry $1,700, Karla $1,800) In 2016, they paid $500 for the preparation of 2015 joint tax return, additionally Karla spent $1,800 on her job search whuch was not successful They also have a restaurant managed by Harry, in 2016 total expenses were $13,500 and total revenue was $24,500 . They filed their 2016 joint tax return. Answer the following: . 1. What was their Adjusted Gross Income (AGI? (Line 37/38)- 2, what is the amount of self-employment tax deductible on line 277. 3 What is the total ofitemized deductions? (Schedule A, line 40 of 1040) .4 What will be the total amount on line 63? (you need to factor in child tax credit and the dependent care credit also) . I Chart a+ Screenshot ctures Online Shapes Icons My Add-ins Wikipedia Online Pictures Video Media llustrations 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 Add-ins . Harry and Karla had the following information relating to their 2016 taxes: .They have been married for 1l years and have two children together. 1. Harry wages were 26,000 and Karla received 46,000 2 They had total interest inconne of $600 of which S50 was receved from mura bonds, #3. They incurred paid the during the year Karla paid alimony of $6,000 former spouse, Ted e She paid $3,000 to Ted Day Care for the care of their son, Arnold, whuile they are working Medical espenses totaled $8,500, nsurance reimbursed them for $1,500 Charitable contributi ons of $3,800 to their church. Contributions to traditional IRA: Harry $5,000 and Karla $4,000e Mortgage interest on their resadence of $7,000. Property tazes on her residence of $1,500. e State income taazes withheld from their wages was $3,500 (Harry $1,700, Karla $1,800) In 2016, they paid $500 for the preparation of 2015 joint tax return, additionally Karla spent $1,800 on her job search whuch was not successful They also have a restaurant managed by Harry, in 2016 total expenses were $13,500 and total revenue was $24,500 . They filed their 2016 joint tax return. Answer the following: . 1. What was their Adjusted Gross Income (AGI? (Line 37/38)- 2, what is the amount of self-employment tax deductible on line 277. 3 What is the total ofitemized deductions? (Schedule A, line 40 of 1040) .4 What will be the total amount on line 63? (you need to factor in child tax credit and the dependent care credit also)
