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I'm struggling to find 'part e' which is, taxes payable or refund due for the year. Required information (The following information applies to the questions

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I'm struggling to find 'part e' which is, taxes payable or refund due for the year.

Required information (The following information applies to the questions displayed below) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $3.500 in federal income taxes withheld from their paychecks during the course of the year (Use the tax rate schedules.) a. What is Marc and Michelle's gross income? Amount Description Marc's salary Michelle's salary Corporate bond interest 64,000 12,000 500 Gross income 76,500 Required information b. What is Marc and Michelle's adjusted gross income? Adjusted gross income $ 72,500 c. What is the total amount of Marc and Michelle's deductions from AGI? Total deductions from AGIS (24.400) d. What is Marc and Michelle's taxable income? Taxable income s 48 100 e. What is Marc and Michelle's taxes payable or refund due for the year? Refund due Pre to search ot 2019 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4.543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46,628 50 plus 35% of the excess over $204,100 $510,300 $153798 50 plus 37% of the excess over $510,300 Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,400 10% of taxable income $ 19,400 $ 78,950 $1,940 plus 12% of the excess over $19,400 $ 78,950 $168,400 $9,086 plus 22% of the excess over $78,950 $168.400 $321,450 $28 765 plus 24% of the excess over $168.400 $321,450 $408,200 $65,497 plus 32% of the excess over $321,450 $408 200 $612,350 $93,257 plus 35% of the excess over $408,200 $612,350 - $164.709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $13.850 10% of taxable income $ 13,850 $ 52,850 $1,385 plus 12% of the excess over $13.850 $ $2.850 $ 84,200 $6,065 plus 22% of the excess over $52,850 $ 84,200 $160,700 $12.962 plus 24% of the excess over $84.200 $160,700 $204,100 $31,322 plus 32% of the excess over $160,700 $204,100 $510,300 $45,210 plus 35% of the excess over $204,100 $510 300 $152,380 plus 37% of the excess over $510,300 Schedule Y-2 Married Filing Separately If taxable income is over: But not over: The tax is: S 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 8970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84.200 $160,725 $204,100 $32,748 50 plus 32% of the excess over $160,725 $204,100 $306,175 $46,628 50 plus 35% of the excess over $204,100 $306,175 - $82,354.75 plus 37% of the excess over $306,175

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