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Help/solutions to problems 14-18. Thank you Mr. and Mrs. David file a joint tax return. They have $169, 300 taxable income in 2015, $120, 300

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Mr. and Mrs. David file a joint tax return. They have $169, 300 taxable income in 2015, $120, 300 of which is ordinary income and $49,000 of which is taxed at a 15% preferential rate. Compute their tax savings from the preferential rate. $4, 900 $6, 370 $5, 443 None of the above. Mr. and Mrs. Kain reported $80,000 AGI on their joint return. The couple has four joint return. The couple has four dependent children: Beatrice, age 19: Bruce, age 16: Angie, age 11, and Amold, age 8 Compute the Kains' child credit $3,000 $2,000 $1,000 $4,000 Lennie and Margo spent $2, 800 for child care for their 7-year-old son. Lennie's earned income was $41,000, Margo's earned income was $24, 800, and the AGI on their joint return was $71, 200. Calculate their dependent care credit. $0 $560 $2, 800 $980 Mr. and Mrs. Harvey's tax liability before credits was $1, 675. Their income tax withholding was $1, 050, and they are entitled to a $1, 189 earned income credit. Which of the following statements is true? The Harveys are entitled to a $1, 189 tax refund. The Harveys owe no additional tax but they are not entitled to a refund The Harveys are entitled to a $564 tax refund. The Harveys are entitled to a $1, 050 tax refund. Julie, an unmarried individual, lives in a home with her 13-year-old dependent son, Oscar year, Julie had the following tax information. Compute Julie's adjusted gross income (AGI) and taxable income. AGI $118,000: taxable income $93, 850 AGI $118,000: taxable income $103, 700 AGI $118,000: taxable income $100, 750 AGIS107,000: taxable income $89, 750

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