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Harry and Karla had the following information relating to their 2 0 2 4 taxes: They have been married for 8 years and have a

Harry and Karla had the following information relating to their 2024 taxes:
They have been married for 8 years and have a dependent son Noah who is 15 years and a dependent daughter (18.5 years old and going to UW Platteville as an accounting major). They have been married for 6 years and had a two dependent sons and daughter (triplets) born in 2019.
1. Harry wages were \(\$ 86,000\) and Karla received \(\$ 98,000\)
2. They had total interest income of \(\$ 600\) of which \(\$ 50\) was received from Muni bonds.
3. Harry inherited 100 target stocks from the estate of his grandfather died in 2024 while jogging. Grandpa's age was only 93 when he collapsed and died. Harry received the stocks on February 25 when the stocks were worth \(\$ 14,200\); Grandpa had purchased the stocks for \(\$ 5,800\) in 1999. He sold 50 of these stocks on December 31,2024, for \(\$ 194\) per share.
4. They incurred/paid the during the year:
- Karla paid \(\$ 18,000\) to her former spouse, Todd; They had the divorce in 2015. Per the divorce decree, Karla was supposed to pay Todd \(\$ 1,000\) per month to support Karla's son Eaton who was under the custody of her ex-husband. The payments would be reduced to \(\$ 500\) per month once Eaton turns 18.
- They also sold Jordan company's Stocks on 10/1/24 for \(\$ 15,000\); they had bought the stocks on 11/5/23 for \(\$ 7,000\).
- Medical expenses totaled \(\$ 13.,500\); insurance reimbursed them for \(\$ 800\).
- Charitable contributions of \(\$ 8,800\) to their church. They also donated 10 shares of the Target corporation on November 30, to Purity Financial.Org.
- Contributions to traditional IRA: Harry \$7,000 and Karla \$6,000
- Mortgage interest on their residence of \(\$ 16,000\). The loan amount was \(\$ 400,000\).
- They also paid \(\$ 1,200\) of interest to First National Bank. They got the loan from BOA to finance the purchase of the shares (Jordan company and one more company)
- Property taxes on her residence of \(\$ 4,800\).
- Federal Income tax withheld from Harry's salary was \$7,500 and from Karla's salary \$
6,000. State income taxes withheld from their wages was \$4,200(Harry-\$2,000; Karla \(\$ 2,200\))
Calculate the following:
1. AGI
2. Taxable Income
3. Income Tax on the taxable income.
4. Balance Payable or refund due.
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