Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022 , Sandy worked as a computer technician at a local university earning a salary of $152,500, and John worked part time as a receptionist for a law firm earning a salary of $29,500. Sandy also does some Web design work on the side and reported revenues of $4,500 and associated expenses of $1,000. The Fergusons received $900 in qualified dividends and a $225 refund of their state income taxes. The Fergusons always itemize their deductions, and their itemized deductions were well over the standard deduction amount last year. Use Exhibit 8-10. Tax Rate Schedule, Dividends and Capital Gains Tax Rates, 2022 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $4,525. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $10,250 (divorced 12/31/2014). - Child support payments for Sandy's child with her former spouse of $4,150. - $12,250 of real property taxes. - John was reimbursed $625 for employee business expenses he incurred. He was required to provide documentation for her expenses to her employer. - \$3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $14,500 interest on their home mortgage ( $400,000 acquisition debt). - \$3,075 interest on a $41,000 home-equity loan. They used the loan to pay for a family vacation and new car. - \$15,250 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair market value of $450 and cost $2,250. a. What is the Fergusons' 2022 federal income taxes payable or refund, including any self-employment tax and AMT, if applicable? Note: Round your intermediate computations to the nearest whole dollar amount. Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2022 , Sandy worked as a computer technician at a local university earning a salary of $152,500, and John worked part time as a receptionist for a law firm earning a salary of $29,500. Sandy also does some Web design work on the side and reported revenues of $4,500 and associated expenses of $1,000. The Fergusons received $900 in qualified dividends and a $225 refund of their state income taxes. The Fergusons always itemize their deductions, and their itemized deductions were well over the standard deduction amount last year. Use Exhibit 8-10. Tax Rate Schedule, Dividends and Capital Gains Tax Rates, 2022 AMT exemption for reference. The Fergusons reported making the following payments during the year: - State income taxes of $4,525. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $10,250 (divorced 12/31/2014). - Child support payments for Sandy's child with her former spouse of $4,150. - $12,250 of real property taxes. - John was reimbursed $625 for employee business expenses he incurred. He was required to provide documentation for her expenses to her employer. - \$3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $14,500 interest on their home mortgage ( $400,000 acquisition debt). - \$3,075 interest on a $41,000 home-equity loan. They used the loan to pay for a family vacation and new car. - \$15,250 cash charitable contributions to qualified charities. - Donation of used furniture to Goodwill. The furniture had a fair market value of $450 and cost $2,250. a. What is the Fergusons' 2022 federal income taxes payable or refund, including any self-employment tax and AMT, if applicable? Note: Round your intermediate computations to the nearest whole dollar amount
