Steven (age 40) and Lori (age 39) Post are married. Lori works as a retail manager and Steven is a self-employed architect (he does not qualify for the QBI Deduction) and does not maintain a home office. Their 2020 tax and other information are as follows:

Salary Lori $90,000

Federal income tax withholding on salary $18,000

CT State Income Tax withholding on salary $ 6,000

CT Municipal bond interest $ 2,000

Savings account interest $ 1,500

Inheritance from Stevens fathers estate $ 7,000

Dividends from RGR, Inc (all are non-qualified) $ 4,000

Interest paid on Loriss personal car loan $ 2,000

Child support paid to Stevens ex-wife $10,000

Alimony paid to Stevens ex-wife. Divorced in 2010 $ 6,000

Qualified Out of Pocket Medical Expenses $ 5,000

Donations to Church $ 2,500

Real Estate Taxes on primary residence $ 5,000

Mortgage interest paid on primary residence (<$1M) $ 8,000

Stevens business revenue $60,000

Stevens business expenses $15,000

Required: Using the tax formula format, determine the following for the Posts 2020 tax year (show all calculations):

1. All Income $___________

2. Income Exclusions (if any) $ ___________

3. Gross income (including Steves SE profit) $ ___________

4. Deductions For AGI $ ___________

5. Adjusted gross income $ ___________

6. Itemized deduction or standard deduction amount $ ___________

7. Qualified Business Deduction $ ___________

8. Taxable income $ ___________

1. Income tax liability $ ___________

10. Self-employment tax liability $ ___________

11. Net tax due or refund (show calculation) $ ___________