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Mr. and Mrs. Lovejoy are married filing jointly, with no dependent children. Mr. Lovejoy worked for Smart Tech Corporation January through March and for
Mr. and Mrs. Lovejoy are married filing jointly, with no dependent children. Mr. Lovejoy worked for Smart Tech Corporation January through March and for Computer Associates the remainder of the year. Mrs. Lovejoy finished her degree in November and immediately began as an associate with Smith and Weber. They report the following information for 2021 Use Individual Tax Rate Schedules and Standard Deduction Table Mr. Lovejoy's salary from Smart Tech Mr. Lovejoy's salary from Computer Associates Mrs. Lovejoy's salary from Smith and Weber Interest from savings account Itemized deductions Dividends eligible for 15% rate Required: a. Compute AGI. b. Compute taxable income. c. Compute net tax liability (after credits) $ 32,000 142,000 15,550 700 9,000 2,200 4 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute taxable income. Taxable income S 168,450
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