Justin Bogan (Social Security number 112-11-2111) is 53 years old and is married to Jane Bogan (Social Security number 124-54-6789). She is 45 years old. The Bogan' live at 1525 Fullerton Road La Habra, CA 90631. They file a joint return and have four dependent children, Justin, Jr, age 11, Corey age 16, Ronda, age 16 and Vanessa, age 12. Justin's Social Security number is 123-45-6888, Corey's Social Security Number is 252-65-9523, Ronda's Social Security Number is 547-65-8585 and Vanessa's Social Security number is 123-46-6787.

In 2020, Justin and Jane had the following transactions:

1. Justin received $255,000 included in his W-2 Box 1 from Alfie Corporation, where he is an accountant. Withholding for Federal income tax was $32,825. Assume the proper amount of Social Security and Medicare tax has been withheld including the .9% ACA Medicare tax (if any).

2. Justin's father passed-away in 2019 and in 2020 he received a parcel of Land worth $ 500,000. There was also a Life Insurance policy from AIG of $2,000.000 where Justin was the sole beneficiary. The proceeds were paid to him in an annuity of $425,000 per year for 5 years starting 2020.

3. Justin and Jane received $19,200 interest on Irvine school district bonds.

4. Justin received $12,000 of interest on Treasury bills.

5. Justin received $5,500 interest from a CD at Wells Fargo.

6. Justin received dividends of $20,000 noted in Box 1a of the 1099-DIV. Of which $12,000 were dividends from Vodaphone Group PLC stock (a UK listed Company) that he has owned for 180 days, and the remaining $8,000 dividends were from Tesla, Inc. Stock which he has owed for 25 days.

7. Justin received 250 shares of Peach Corporation common stock as a stock dividend. The shares had a fair market value of $9,500 at the time he received them, and she did not have the option of receiving cash.

8. Justin paid $15,500 alimony to his former wife, Nicole Bogan (Social Security number 124-48- 8786). The divorce was finalized in 2004.

9. Justin and Jane kept the receipts for their 2020 sales taxes paid of $1,100.

10. Justin and Jane's itemized deductions for 2020 were as follows:

• Real estate taxes on their principal residence were $8,500.
• Mortgage interest on their principal residence was $17,500.
• Cash contributions to the church totaled $8,500.
• Non-cash contributions of $450 to Goodwill Industries.
• Medical Expenses related to Doctors, etc. of $25,000 (Note the maximum amount was paid out of their Health Savings Account see below).
• Job related unreimbursed expenses of $8,500 related to travel for his job.
• Tax Preparation Fees of $5,000.
• Contributions to the Mayor of Laguna Beach's campaign of $2,800.
• State income tax paid and withheld totaled $ 7,100

11. Justin and Jane set up a new Health Savings Account for the maximum amount allowed in 2020. They have a high deductible medical plan at Alfie Corporation.

12. Justin contributed $5,000 to each of the kids 529 plans in 2020.

Compute the Bogan's net federal tax payable (or refund due) 2020.