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Please do not copy from another similar question the numbers are different from those other post making the answers wrong. Comprehensive Problem. Andy and Marcia

Please do not copy from another similar question the numbers are different from those other post making the answers wrong.

Comprehensive Problem. Andy and Marcia Tufts, both age 35, are married with two children and file a joint return. Assume the children do not qualify for the child tax credit (Ch. 9), and the mortgage is not over $750,000. They are each provided health insurance by their employer. The dividends are not qualified and are taxable as ordinary income. From the following information, compute their tax owed or refund due for 2021.

Andys salary

$50,000

Federal income tax withheld

4,000

Marcias salary

42,000

Federal income tax withheld

5,000

Andys contribution to an IRA (assume IRA is deductible for AGI)

2,000

Nonqualified dividends received

950

Medical expenses for doctors and hospitals

13,200

Health insurance reimbursement

6,000

Prescription drugs and medicines

5,800

Eyeglasses for one of the children

175

Interest on home mortgage

12,800

Interest on credit cards

300

Real property taxes on residence

6,300

State income taxes

5,800

Fee for preparation of tax returns

125

Union dues and subscriptions

480

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