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Monte Lion and Ella Funt are a married couple with three children. Wages totaled $141,600 with itemized deductions of $33,400. Interest income was 2,000. The
Monte Lion and Ella Funt are a married couple with three children. Wages totaled $141,600 with itemized deductions of $33,400. Interest income was 2,000.
The couple sold stock for $32,000 which had been purchased three years earlier for $26,000. They also sold stock for $8100 which had been puchased nine months earlier for 6,000 for the year the couple has paid 19,500 in federal taces they are also eligible for 3000 tax credit. How large of a refund will they receive
a)
6750
b) 6542.50
c) 5170.00
d) 5900
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