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From the following information determine the total 2015 tax due for Charlene and Dick Storm, assuming they file a joint return, have three dependents, and
From the following information determine the total 2015 tax due for Charlene and Dick Storm, assuming they file a joint return, have three dependents, and are not members of a qualified retirement plan.
Dick's wages | 33,000 |
Charlene's Wages | 41,000 |
Dick's Contribution to an IRA | 2,000 |
Charlene's Contribution to an IRA | 800 |
Charlene's Self-Employment Income | 12,000 |
Tax Preference Items | 40,000 |
General Business Credit | 7,000 |
Housing Interest | 8,000 |
Consumer Interest | 2,000 |
Property Taxes | 3,000 |
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