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Mark and Michelle are married, file a joint return and have two dependent children. During 2013, they report following iteams: Mark's Salary: $83,000 Michelle's Salary:

Mark and Michelle are married, file a joint return and have two dependent children. During 2013, they report following iteams:

Mark's Salary: $83,000

Michelle's Salary: $120,000

Interest Earned on Municipal Bonds: $2,000

Net long term capital loss: $4,000

Net short term capital gain: $8,000

Capital loss carryover from prior year: $11,000

IRA contribution: $10,000

Itemized deductions: $10,500

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