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QUESTION 1 (10 Points) Compute the requested amounts and place the answers in the spaces provided. Be sure to show your work for potential partial

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QUESTION 1 (10 Points) Compute the requested amounts and place the answers in the spaces provided. Be sure to show your work for potential partial credit. Star-Lord and Gamora Galaxy have been married for 22 years and have two children who qualify as their dependents (Rocket, 15; and Groot, 18). The couple received salary income of 5326,650. They sold some stock they had owned for 8 years and had an $12,000 gain on the sale. They also received $23,000 of corporate bond interest and $9,400 of interest from Marvel City bonds. The Galaxy's also cashed in a Certificate of Deposit early during the year and paid a $1,550 penalty on the carly withdrawal. Additionally, Star-Lord (who teaches middle school) spent $965 on supplies and snacks for his classroom. Star-Lord and Gamora accumulated $42,780 of itemized deductions and they had $38,590 withheld from their paychecks for federal income taxes. Gross Income Deductions FOR AGI Adjusted Gross Income Standard Deduction Itemized Deductions Taxable Income Tax Liability Amount Due OR Refund Use the table below to show what you did and did not include in Gross Income. Deductions and or other items and your explanation. Feel free to add additional rows as necessary. Item Amount Explanation

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