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[The following information applies to the questions displayed below.] Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college

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[The following information applies to the questions displayed below.] Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft business from their home. Jessie's craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business, and it has been consistently profitable over the years. Joe and Jessie own a home and pay interest on their home loan (balance of $220,000 ) and a personal loan to pay for Lizzle's college expenses (balance of $35,000 ). Neither Joe nor Jessie is blind or over age 65 , and they plan to file as married-joint. Assume that the employer portion of the self-employment tax on Jessie's income is $767. Joe and Jessie have summarized the income and expenses they expect to report this year as follows: a. Determine Joe and Jessie's AGl and taxable income for the year. Note: Round your intermediate calculations to the nearest whole dollar amount. b. Complete page 1 of Form 1040 (through taxable income, line 15), Schedule 1, and Schedule A. (Round your intermediate computations to the nearest whole dollar amount. Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Use 2022 tax rules regardless of year on form.) Joe and Jessie does not wish to contribute to the Presidential Election Campaign fund or did not have any virtual currency transactions or interests. Joe's address is 19010 N.W. 135th Street, Miami, FL 33054 Social security numbers: Joe: 111-11-1111 Form 1040 for a Married filing jointly [The following information applies to the questions displayed below.] Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft business from their home. Jessie's craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business, and it has been consistently profitable over the years. Joe and Jessie own a home and pay interest on their home loan (balance of $220,000 ) and a personal loan to pay for Lizzle's college expenses (balance of $35,000 ). Neither Joe nor Jessie is blind or over age 65 , and they plan to file as married-joint. Assume that the employer portion of the self-employment tax on Jessie's income is $767. Joe and Jessie have summarized the income and expenses they expect to report this year as follows: a. Determine Joe and Jessie's AGl and taxable income for the year. Note: Round your intermediate calculations to the nearest whole dollar amount. b. Complete page 1 of Form 1040 (through taxable income, line 15), Schedule 1, and Schedule A. (Round your intermediate computations to the nearest whole dollar amount. Input all the values as positive numbers. Enter any non-financial information, (e.g. Names, Addresses, social security numbers) EXACTLY as they appear in any given information or Problem Statement. Use 2022 tax rules regardless of year on form.) Joe and Jessie does not wish to contribute to the Presidential Election Campaign fund or did not have any virtual currency transactions or interests. Joe's address is 19010 N.W. 135th Street, Miami, FL 33054 Social security numbers: Joe: 111-11-1111 Form 1040 for a Married filing jointly

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