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The following information relates to two married couples: Begin by computing taxable income for each couple. (Complete all input fields. Enter 0 for accounts with

The following information relates to two married couples:

image text in transcribedimage text in transcribedimage text in transcribed

Begin by computing taxable income for each couple. (Complete all input fields. Enter "0" for accounts with a zero balance.)

Finnigans

Flannigans

Salary

Taxable interest income

Gross income

Minus:

IRA contribution

Adjusted gross income

Minus:

Itemized deductions

Taxable income

Now calculate the 2018 tax due or refund due for each couple. (Use the 2018 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar. Use a minus sign or parentheses for a net tax refund.)

Finnigans

Flannigans

Gross tax

Minus:

Withholding

Tax due (refund)

Choose from any list or enter any number in the input fields and then continue to the next question.

FinnigansFlannigans Salary (eaned by one spouse) 50,000 $ Taxable interest income Deductible IRA contribution Itemized deductions Withholding 130,000 500 5,500 17,000 8,600 900 1,000 600

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