Homework #1 Mark and Michelle are married, file a joint return, and have two dependent children. Michelle is a lawyer working for a corporation. Mark works as a college science teacher. During 2017, they report the following items Mark's Salary Michelle's salary Interest earned on municipal bonds Net long term capital loss Net short term capital gain Capital loss carryover from prior year RA Contribution Itemized deductions 83,000 120,000 2,000 4,000 8,000 11,000 10,000 10,500 Compute adjusted gross income, taxable income and tax owed