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Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350

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Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account and he also paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $5,500 in federal income taxes withheld from their paychecks during the course of the year. Amount Computation Points 0.6 0.4 04 0.2 Description 1) Gross income 12) For AGI deductions 3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (6) Greater of standard deduction or itemized deductions O Taxable income (8) Income tax liability (9) Credits (10) Prepayments Taxes (refund) with return | 0.2 0.2 (1 point) Complete pages 1 and 2 of Marc and Michelle's 2018 Form 1040. Make up addresses and social security numbers. 1 point: how might your answer in For AGI deductions be different if this tax return was for 2019? Hint: Alimony (note that the default grade for this assignment and all non-MC is 85 percent or 4.25/5. To get higher than 4.25 your answer to this question must be excellent

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