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Shannon and Eric Stafford are married with 3 children. The ages of the children are 5 ( Lilly ) , 8 ( Reagan ) and

Shannon and Eric Stafford are married with 3 children. The ages of the children are 5(Lilly),8(Reagan) and 12(Katie). They currently reside in Houston, Texas and was impacted by a recent natural disaster. Combined Shannon and Eric gross income: $250,000 IRA deduction: $7,000 Standing deductions: $18,350 Amount withheld for federal income tax: $10,500 Child tax credit: $4,000 Filing status: Married Hurricane Disaster Amount: $4,000 Mortgage Interest: $5,000 Property taxes: $10,000 United Way contributions: $5,000 Answer the following: 1. What is the AGI (Adjusted Gross Income)

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