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What is the Fergusons 2022 federal income taxes payable or refund [The following information applies to the questions displayed below.] Sandy and John Ferguson got
What is the Fergusons 2022 federal income taxes payable or refund
[The following information applies to the questions displayed below.] Sandy and John Ferguson got married eight years ago and have a seven-year-old daughter. Samantha. In 2022, Sandy worked as a computer technician at a local university earning a salary of $153,300, and John worked part time as a receptionist for a law firm earning a salary of $30,300. Sandy also does some Web design work on the side and reported revenues of $5.300 and associated expenses of $1.400. The Fergusons received $1.060 in qualified dividends and a $265 refund of their state income taxes. The Fergusons always itemize their deductions, and their itemized deductions were well over the standard deduction amount last year. Use Exhibit 810. Tax Rate Schedule. Dividends and Capital Gains Tax Rates. 2022 AMT exemption for reference. The Fergusons reported making the following payments during the year. - State income taxes of $4.725. Federal tax withholding of $21,000. - Alimony payments to Sandy's former spouse of $10,650 (divorced 12/31/2014). - Child support payments for Sancy's child with her former spouse of $4,230. - $12,330 of real property taxes. - John was reimbursed $665 for employee business expenses he incurred. He was required to provide documentation for her expenses to her employer. - \$3,600 to Kid Care day care center for Samantha's care while Sandy and John worked. - $15,300 interest on their home mortgage ( $400.000 acquisition debt). - \$3,195 interest on a $42,600 home-equity loan. They used the loan to pay for a family vacation and new car. - $15,650 cash charitable contributions to qualifled charities. - Donation of used furniture to Goodwill. The furniture had a fair market value of $530 and cost $2,650. a. What is the Fergusons' 2022 federal income taxes payable or refund, including any self-employment tax and AMT. if applicable? Note: Round your intermediate computations to the nearest whole dollar amount Step by Step Solution
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