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PLEASE HELP! Thanks in advance! i am married with no kids and my wife is a full time student. I am going to file a
PLEASE HELP! Thanks in advance!
i am married with no kids and my wife is a full time student. I am going to file a joint tax return. my total household income from all sources is $200,000. All of the income is attributable to me. During 2016 I made a $4,000 contribution to my 401k plan. my itemized deductions totaled $25,000 for 2016; $18,000 of the itemized deductions were attributable to me. I also qualified for a child tax credit of $350. Total federal income tax withholding for 2016 was $13,000.
What is my taxable income?
what is my net tax expense?
Also, did i receive a refund or did I have to make a payment with my tax return? if so, how much was my payment/refund?
please show work! with adding and subtracting thank you!
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