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Required Information [The following Information applies to the questions displayed below.] Joe and Jessle are marrled and have one dependent child, LIzzle. LIzzle Is currently

image text in transcribed Required Information [The following Information applies to the questions displayed below.] Joe and Jessle are marrled and have one dependent child, LIzzle. LIzzle Is currently In college at State UnIversity. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft business from thelr home. Jessle's craft business consists of making craft Items for sale at craft shows that are held perlodically at varlous locations. Jessie spends considerable time and effort on her craft business, and It has been consistently profitable over the years. Joe and Jessle own a home and pay Interest on thelr home Ioan (balance of $220,000 ) and a personal loan to pay for LIzzle's college expenses (balance of $35,000 ). Nelther Joe nor Jessle is blind or over age 65, and they plan to file as marrled-Joint. Assume that the employer portion of the self-employment tax on Jessie's Income is $839. Joe and Jessle have summarlzed the Income and expenses they expect to report this year as follows: a. Determine Joe and Jessle's AGI and taxable Income for the year. Note: Round your Intermedlate calculatlons to the nearest whole dollar amount

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