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I have posted this question several times and keep getting those two numbers wrong. Can someone professional solve it, please Demarco and Janine Jackson have

image text in transcribedimage text in transcribedI have posted this question several times and keep getting those two numbers wrong. Can someone professional solve it, please

Demarco and Janine Jackson have been married for 20 years and have four children (no children under age 6 at year- end) who qualify as their dependents (Damarcus, Jasmine. Michael, and Candice). The couple received salary income of $101.400 and qualified business income of $10.000 from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $228.000 and they sold it for $320.000. The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $17.900 of itemized deductions (no charitable contributions), and they had $1.000 withheld from their paychecks for federal taxes. They are also allowed to claim a child tax credit for each of their children. However, because Candice was 18 years of age at year end, the Jacksons may claim a child tax credit for other qualifying dependents for Candice. (Use the tax rate schedules.) a. What is the Jacksons' taxable income, and what is their tax liability or (refund)? (Do not round Intermediate calculations.) Answer is complete but not entirely correct. Description Amount $ 111,400 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (6) Greater of standard deduction or itemized deductions (7) Deduction for qualified business income (8) Total deductions from AGI $ 111,400 25,100 17.900 25,100 2.000 27.100 > 84,300 10.043 $ 0 (9) Taxable income (10) Income tax liability (11) Other taxes (12) Total tax (13) Credits (14) Prepayments Tax due with tax return s 10,043 8.500 X 1.000 7,785 X xls 2021 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9,950 10% of taxable income $ 9,950 $ 40,525 $995 plus 12% of the excess over $9.950 $ 40,525 $ 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 $ 164,925 $14,751 plus 24% of the excess over $86,375 $ 164,925 $ 209,425 $33,603 plus 32% of the excess over $164,925 $ 209,425 $ 523,600 S47,843 plus 35% of the excess over $209,425 $ 523,600 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over:But not over: The tax is: $ 0 $ 19,900 10% of taxable income $ 19.900 $ 81,050 $1.990 plus 12% of the excess over $19,900 $ 81,050 $ 172,750 $9,328 plus 22% of the excess over $81,050 $ 172,750 $ 329,850 $29,502 plus 24% of the excess over $172.750 $329,850 $ 418,850 S67,206 plus 32% of the excess over $329,850 $ 418,850 $ 628,300 $95,686 plus 35% of the excess over $418,850 $ 628,300 $168.993.50 plus 37% of the excess over $628,300 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 14,200 10% of taxable income $ 14,200 $ 54,200 $1,420 plus 12% of the excess over $14,200 $ 54,200 $ 86,350 $6,220 plus 22% of the excess over $54,200 $ 86,350 $ 164,900 $13,293 plus 24% of the excess over $86,350 $164.900 $ 209,400 $32,145 plus 32% of the excess over $164.900 $ 209,400 S 523,600 $46,385 plus 35% of the excess over $209,400 $ 523,600 $156,355 plus 37% of the excess over $523,600 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9,950 10% of taxable income $ 9,950 $ 40,525 $995 plus 12% of the excess over $ 9,950 $ 40,525 $ 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 $ 164,925 $14,751 plus 24% of the excess over $86,375 $ 164,925 $ 209,425 $33,603 plus 32% of the excess over $164.925 $ 209,425 S 314,150 $47,843 plus 35% of the excess over $209,425 $314.150 $84,496.75 plus 37% of the excess over $314,150

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