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Part B During 2019, Richard and Greta Van Fleet, who are married and have two dependent children, ages 14 and 16, and have the following information: Total salaries Bank account interest State of Idaho bond interest Gift from Greta's dad Life insurance proceeds (Richard's mom died) Sale of Qualified Small Business Stock (adj. basis =$500,000) Dividend income (BMW-based in Germany) Long-term capital gains Long-term capital losses ABC limited partnership interest (passive)* XYZ limited partnership interest (passive)* * (these limited partnerships are not real estate related) $100,000 5,000 3,000 18,000 70,000 1,500,000 4,000 7,000 (3,000) 25,000 (32,000) They also incurred the following expenses: Qualified medical expenses State & local income taxes paid Property taxes on home Qualified residence interest (original amount borrowed = $400,000) Cash charitable contributions ($11,300 to church; $3,700 to UK) $ 8,000 7,000 2,300 11,000 15,000 They have the following federal tax payments: Income tax withheld Estimated tax payments $10,000 2,000 Also, they want to make the maximum contribution possible to Roth IRAs for both of them. Richard is 48, and Greta is 46. Be prepared to answer questions regarding gross (total income), AGI, taxable income, Federal tax liability, and additional tax due or refund due. Part B During 2019, Richard and Greta Van Fleet, who are married and have two dependent children, ages 14 and 16, and have the following information: Total salaries Bank account interest State of Idaho bond interest Gift from Greta's dad Life insurance proceeds (Richard's mom died) Sale of Qualified Small Business Stock (adj. basis =$500,000) Dividend income (BMW-based in Germany) Long-term capital gains Long-term capital losses ABC limited partnership interest (passive)* XYZ limited partnership interest (passive)* * (these limited partnerships are not real estate related) $100,000 5,000 3,000 18,000 70,000 1,500,000 4,000 7,000 (3,000) 25,000 (32,000) They also incurred the following expenses: Qualified medical expenses State & local income taxes paid Property taxes on home Qualified residence interest (original amount borrowed = $400,000) Cash charitable contributions ($11,300 to church; $3,700 to UK) $ 8,000 7,000 2,300 11,000 15,000 They have the following federal tax payments: Income tax withheld Estimated tax payments $10,000 2,000 Also, they want to make the maximum contribution possible to Roth IRAs for both of them. Richard is 48, and Greta is 46. Be prepared to answer questions regarding gross (total income), AGI, taxable income, Federal tax liability, and additional tax due or refund due