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Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer

Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft business from their home. Jessie's craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business, and it has been consistently profitable over the years. Joe and Jessie own a home and pay interest on their home loan (balance of $220,000) and a personal loan to pay for Lizzie's college expenses (balance of $35,000).

Neither Joe nor Jessie is blind or over age 65, and they plan to file as married-joint. Assume that the employer portion of the self-employment tax on Jessie's income is $737. Joe and Jessie have summarized the income and expenses they expect to report this year as follows:

Income:
Joe's salary $ 135,400
Jessie's craft sales 18,530
Interest from certificate of deposit 1,780
Interest from Treasury bond funds 742
Interest from municipal bond funds 946
Expenditures:
Federal income tax withheld from Joe's wages $ 13,700
State income tax withheld from Joe's wages 6,660
Social Security tax withheld from Joe's wages 7,534
Real estate taxes on residence 6,460
Automobile licenses (based on weight) 336
State sales tax paid 1,280
Home mortgage interest 17,300
Interest on Masterdebt credit card 2,560
Medical expenses (unreimbursed) 1,820
Joe's employee expenses (unreimbursed) 2,660
Cost of Jessie's craft supplies 5,580
Postage for mailing crafts 158
Travel and lodging for craft shows 2,360
Self-employment tax on Jessie's craft income 1,474
College tuition paid for Lizzie 6,040
Interest on loans to pay Lizzie's tuition 3,460
Lizzie's room and board at college 12,880
Cash contributions to the Red Cross

590

a. Determine Joe and Jessie's AGI and taxable income for the year.

Joe and Jessies AGI $
Joe and Jessies Taxable income $

b. Complete page 1 of Form 1040 (through taxable income, line 15), Schedule 1, and Schedule A.

(Round your intermediate computations to the nearest whole dollar amount. Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Use 2022 tax rules regardless of year on form.) Joe and Jessie does not wish to contribute to the Presidential Election Campaign fund or did not have any virtual currency transactions or interests.

Note: The last couple answers a received from this post were incorrect so I'm not sure if there's a special requirement for this question or not. If you could look at the other answers to this post first I would greatly appreciate it. I am desperate for help on this question. Thank you all for your time.

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