The following information is available for Alayna and Beau Nicky, a married couple filing a joint return, for 2021. Both Alayna and Beau are age 32 and have no dependents.

Alayna’s Salary $120,000 plus a bonus of $74963

Beau is an unemployed artist

Interest income $12,000

Ordinary Dividends $5750

Capital Losses $53000

Gambling Winnings $97600

Do not worry about the phase out of exemptions.

Withholding $33,000

a. What is the amount withheld for each element of FICA taxes (Social Security and Medicare)?

b. What is the amount of their adjusted gross income?

c. What is the amount of their taxable income?

d. What is the amount of their tax liability (gross tax)?

e. What is the amount of their tax due or (refund due)?