What would their taxable income be if they had $0 itemized deductions and $10,400 of for AGI deductions? Individuals Schedule X-Single Schednle V-1_Married Filing .Inintlv or Onalifving surviving snonse What would their taxable income be if they had $0 itemized deductions and $10,400 of for AGI deductions? Required Information [The following Information applles to the questions displayed below.] Demarco and Janine Jackson have been marrled for 20 years and have four children who qualify as their dependents (Damarcus, Jasmine, Michael, and Candice). The Jacksons file a JoInt tax return. The couple recelved salary Income of $94,000 and qualified business Income of $21,000 from an Investment In a partnership, and they sold their home this year. They Inltlally purchased the home three years ago for $255,000 and they sold it for $305,000. The galn on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $18,700 of Itemized deductions, and they had $4,000 withheld from thelr paychecks for federal taxes. They are also allowed to clalm a child tax credit for each of thelr children. However, because Candice was 18 years of age at year end, the Jacksons may clalm a child tax credit for other qualifying dependents for Candice. (Use the tax rate schedules.) Required: c. What would their taxable Income be If thelr Itemized deductions totaled $30,200 Instead of $18,700 ? d. What would their taxable Income be If they had $0 Itemized deductions and $10,400 of for AGI deductions? e. Assume the original facts but now suppose the Jacksons also Incurred a loss of $6,100 on the sale of some of their Investment assets. What effect does the $6,100 loss have on thelr taxable Income? f. Assume the original facts but now suppose the Jacksons own Investments that appreclated by $10,000 durlng the year. The Jacksons belleve the Investments will contInue to appreclate, so they did not sell the Investments during this year. What is the Jacksons taxable Income? What would their taxable income be if their itemized deductions totaled $30,200 instead of $18,700 ? Assume the original facts but now suppose the Jacksons also incurred a loss of $6,100 on the sale of some of their investme assets. What effect does the $6,100 loss have on their taxable income? Assume the original facts but now suppose the Jacksons also incurred a loss of $6,100 on the sale of some of their investme assets. What effect does the $6,100 loss have on their taxable income? Assume the original facts but now suppose the Jacksons own investments that appreciated by $10,000 during the year. The Jacksons believe the investments will continue to appreciate, so they did not sell the investments during this year. What is the Jacksons' taxable income