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I need help in calculating the taxable income and income tax. Mr. and Mrs. Daku have the following income items: Mr. Daku's salary $52,500 Mrs.
I need help in calculating the taxable income and income tax.
Mr. and Mrs. Daku have the following income items:
Mr. Daku's salary $52,500
Mrs. Daku's Schedule C net profit 41,800
Interest income 1,300
Mrs. Daku's self employment tax was $5,906. Mrs. Daku's Schedule C net business profit is qualified business income under Section 199A The couple have $8,070 itemized deductions and no children or other dependents. Joint tax return for 2019 tax year.
I calculated the AGI as $92,647
Taxable income?
Income tax?
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