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 $2023.)$

Married Filing Joint Tax Rate Schedule

If taxable income is:

Not over $$22,000$

Over $$22,000$ but not over $$89,450$

Over $$89,450$ but not over $$190,750$

Over $$190,750$ but not over $$364,200$

Over $$364,200$ but not over $$462,500$

Over $$462,500$ but not over $$693,750$

Over $$693,750$

Married, Filing Joint and Surviving Spouse

The tax is:

$..10\%$ of taxable income.

$.....$ $$2,200\mathrm{.}00+12\%$ of the excess over $$22,000.$

$...$ $$10,294\mathrm{.}00-$: $22\%$ of the excess over $$89,450.$

$..$ $$32,580\mathrm{.}00+24\%$ of the excess over $$190,750.$

$..$ $$74,208\mathrm{.}00+32\%$ of the excess over $$364,200.$

$..$ $$105,664\mathrm{.}00+35\%$ of the excess over $$462,500.$

$.$ $$186,601\mathrm{.}50+37\%$ of the excess over $$693,750.$ Standard Deduction Amounts

STANDARD DEDUCTION

Filing Status

Married individuals filing joint returns and surviving spouses

$27,700$

Heads of households

$20,800$

Unmarried individuals $($other than surviving spouses and heads of households$)$

$13,850$

Married individuals filing separate returns

$13,850$

Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses

$$1,500*$

Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse

$$1,850*$

Taxpayer claim

Now compute their additional tax due or refund when they file their tax return. $($Use the $2023$ 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.$)$

Additional tax due $($refund$)$