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thank you for any help! Comprehensive Problem 4-54 (LO 4-1, LO 4-2, LO 4-3) [The following information applies to the questions displayed below.) Marc and

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Comprehensive Problem 4-54 (LO 4-1, LO 4-2, LO 4-3) [The following information applies to the questions displayed below.) Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they recelved interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an Individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $3,500 in federal income taxes withheld from their paychecks during the course of the year. (Use the tax rate schedules.) Comprehensive Problem 4-54 Part-a through a. What Is Marc and Michelle's gross income? Description Amount Gross income li! Next > b. What Is Marc and Michelle's adjusted gross income? Adjusted gross income c. What is the total amount of Marc and Michelle's deductions from AGI? Total deductions from AG! Prey 1 2 of 4 # Next > d. What is Marc and Michelle's taxable income? Taxable income e. What is Marc and Michelle's taxes payable or refund due for the year? Pre 12 of 4 Nav

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