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Using the married filing jointly status and their income and expense statement, calculate the 2014 tax liability for Shameka and Curtis Williams. First use the
Using the married filing jointly status and their income and expense statement, calculate the 2014 tax liability for Shameka and Curtis Williams. First use the standard deduction, and then use the following itemized deductions:
income:
earned income: $48000.00
interest income: 1600.00
expenses:
home mortgage interest: $7700.00
real estate and state income taxes: 3650.00
miscellaneous deductions: 800.00
Shameka and curtis' total gross income for the 2014 tax year is $_______ (round to the nearest cent)
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