Please!
Johin aud Sancy Fergusson got married eight years ago and have a seren-year-old daughter, Samantha. In 2021. Joha wooked as a computer techaician at a local uaiversity earning a salary of $152.000, and Sandy worked pert time as a receptionist for a law ffrm earning a salary of $29,000. Joha also does some Web design work on the side and reported revenues of $4,000 and associased expenses of $750. The Fergusons received 5800 in qualified dividends and a $200 refund of their state income taxes. The Fergusons almyys itemize their dedvetions, and their itemized deductions were well wer the standard dedustion amount last year. Assume the Fergusons did not receive an advance poyment for the 2021 individual reconery credit beeause they are not eligible for the credit. The Fergusons reported making the folloming payments during the year: - State income taxes of \$4,400. Federal tax with holding of $21,000. - Alimony pagments to John's former wife of $10,000 (divorced in 2014). - Child support pazments for John's child with his former wife of 54,100 . - \$12,200 of real properity taxes. - Sandy was reimbersed $600 for emplogwe business expenses she incurred. She was required to provide documentation for her expenses to her employer. - \$3,600 to Kid Care dyy care center for Samantha's care while Joha and Sandy worked. - \$14,000 interest on their home montgage (\$400,000 acquisition debt). - $3,000 interest on a $40,000 homeequity loun. They used the loan to pay for a family racation and new car. - \$15,000 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair narket value of $400 and cost $2.000. Required: On the attached Excel spreadsheet, compute the correct amounts in each of the yellow highlighted cells. Individual Income Tax Formula Using the facts in the comprehensive problem, complete the yellow boxes below. Boxes that are in gray are automatically computed so please do not touch them. Johin aud Sancy Fergusson got married eight years ago and have a seren-year-old daughter, Samantha. In 2021. Joha wooked as a computer techaician at a local uaiversity earning a salary of $152.000, and Sandy worked pert time as a receptionist for a law ffrm earning a salary of $29,000. Joha also does some Web design work on the side and reported revenues of $4,000 and associased expenses of $750. The Fergusons received 5800 in qualified dividends and a $200 refund of their state income taxes. The Fergusons almyys itemize their dedvetions, and their itemized deductions were well wer the standard dedustion amount last year. Assume the Fergusons did not receive an advance poyment for the 2021 individual reconery credit beeause they are not eligible for the credit. The Fergusons reported making the folloming payments during the year: - State income taxes of \$4,400. Federal tax with holding of $21,000. - Alimony pagments to John's former wife of $10,000 (divorced in 2014). - Child support pazments for John's child with his former wife of 54,100 . - \$12,200 of real properity taxes. - Sandy was reimbersed $600 for emplogwe business expenses she incurred. She was required to provide documentation for her expenses to her employer. - \$3,600 to Kid Care dyy care center for Samantha's care while Joha and Sandy worked. - \$14,000 interest on their home montgage (\$400,000 acquisition debt). - $3,000 interest on a $40,000 homeequity loun. They used the loan to pay for a family racation and new car. - \$15,000 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair narket value of $400 and cost $2.000. Required: On the attached Excel spreadsheet, compute the correct amounts in each of the yellow highlighted cells. Individual Income Tax Formula Using the facts in the comprehensive problem, complete the yellow boxes below. Boxes that are in gray are automatically computed so please do not touch them
