John and Georgia are married, file jointly, and have three dependents (qualifying children ages 13, 16, and 18). They have salaries of $130,000, a capital loss of $8,000, and tax-exempt interest income of $1,000. They paid home mortgage interest of $10,000, state income taxes of $4,000, property taxes of $2,800, medical expenses of $3,000, and charitable contributions of $5,000. Federal income taxes of $11,000 were withheld from their paychecks. (The tax year is 2022.) View the standard deduction amounts. View the 2022 tax rate schedule for the Married filing jointly filing status. Requirement Compute the additional tax due or refund they have when filing their tax return. ... Begin by computing their taxable income. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero. Enter a "0" for amounts with a zero balance. Use parentheses or a minus sign to enter a loss.) Salaries Allowable capital loss Adjusted gross income Minus: Standard deduction Taxable income $ 130,000 (3,000) 127,000 (25,900) 101,100 Now compute their additional tax due or refund when they file their tax return. (Use the 2022 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Enter a refund with parentheses or a minus sign.) Now compute their additional tax due or refund when they file their tax return. (Use the 2022 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Enter a refund with parentheses or a minus sign.) Gross tax Minus: Child tax credit Net tax Minus: Withholdings Additional tax due (refund) 14289 11000 Standard Deduction Amounts STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse $ 25,900 $ 19,400 $ 12,950 $ 12,950 $1,400* $1,750* Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $400 or (2) $1,150