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K Using the married filing jointly status, , and their income and expense statement, H, calculate the 2020 tax liability for Shameka and Curtis Williams.
K Using the married filing jointly status, , and their income and expense statement, H, calculate the 2020 tax liability for Shameka and Curtis Williams. First, use the standard deduction, and then use the itemized deductions. Explain to the Williamses which method they should use and why. Shameka and Curtis' total gross income for the 2020 tax year is $ 64600. (Round to the nearest cent.) The adjustments to gross income for the 2020 tax year is $ (Round to the nearest cent.) Data table Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Standard Deduction Amounts Filing Status Single 2020 $12,400 Head of Household Married Filing Jointly or Surviving Spouse Married Filing Separately $24,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Income Salary income Interest income Expenses Home mortgage interest $62,000.00 $2,600.00 $18,000.00 $18,650 $12,400 Real estate and state income taxes Other $9,550.00 Child Tax Credit in 2020: $2,000 per child IRA contribution-Shameka IRA contribution-Curtis $2,900.00 $2,500.00 Print Done Print Done
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