sCule.OUTp 7ot 8 (6 complete) HW Score: 68 75%, 5 5 of 8 pts Pl:8-56 (book/static) E Question Help Michelle and Mark are married and file a joint return. Michelle owns an unincorporated dental practice. Mark works part-time as a high school math teacher, and spends the remainder of his time caring for their daughter. During 2018, they report the following items (Click the icon to view the 2018 standard deduction amounts.) acnpter Dung Read the Read the requirements EEB (Click the icon to view the data.) Requirement a. What is Michelle and Mark's taxable income or loss for the year? (Use a minus sign or parentheses for a loss or negative adjusted gross income.) Gross income from business 65000 Minus s income Net business income (loss) Business expenses 100 18000 1200 10900 bd Mark's salary Interest income Adjusted gross income Minus: temized deductions Taxable income (loss) Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All remaining Data Table f h 18,000 1,200 12,700 9,400 Mark's salary Interest earned on savings account d M Interest paid on personal residence ltemized deductions for state and local taxes ltems relating to Michelle's dental practice 65,000 49,000 17,000 16,400 4,600 8,100 In addition to the other itemized deductions, Michelle and Mark suffer a Revenues Payroll and salary expense Supplies Rent Advertising Depreciation $4,500 deductible personal casualty loss (after limitations). Print rint Done umber in the input fields and then click Check Answer Clear All 1 pt 7 of8 (6 complete HW Score: 68.7 i Reference STANDARD DEDUCTION Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households Married individuals fling separate returns Addional standard deduction for the aged and the blind $ 24,000 18,000 12,000 12,000 Individual who is married and surviving spouses Individual who is unmarried and not a surviving spouse 1,300 1,600 Taxpayer dlaimed as dependent on another taxpayer's retun Greater of (12 earned income plus s350 or 2) 51, 050 .These amounts are $2 600 and $3.200, respectively, for a taxpayer who is both aged and blind Print Done nter any number in the input fields and then click Check Answer iew the data.) is Michelle and Mark's taxable income or loss for the year? (Use a minus sign or parentheses for a lo usiness 65000 s expenses Requirements (loss) a. What is Michelle and Mark's taxable income or loss for the year? b. What is Michelle and Mark's NOL for the year? d deductions Print Done a numher in the input fields and then click Check