Peggy and Clyde Wagner bear an AGI of $65,000 for 2018. Their expenses for 2018 are:
Prescription drugs $ 4,580
Interest on abode advance 9,700
Doctor and dental bills remunerated 2,700
Hospital bills remunerated 1,900
Property taxes remunerated on abode 3,650
State Proceeds Taxes withheld from salary 2,700
Safe pledge box rental 360
Interest on automobile mortgage 1,750
Credit Card Interest remunerated 500
Medical Insurance Premiums 2,600
Eyeglasses for Peggy 565
Fair Market Value of TPP, Inc accumulation donated to habitation 2,800
Union Dues remunerated by Clyde 720
Cash contributions to habitation 2,800
Tax provision fee 450
Both Peggy and Clyde are inferior 40 and bear lived in Oregon for the undiminished year. They bear indelicate conclusion, ages 8, 10, 14 and 17. They procure polish a articulation proceeds tax produce for this year.
a. Calculate their whole itemized expenditure?
b. What is their taxable proceeds?
c. Calculate their tax jurisdiction.
d. If they had a whole of $5,600 of Federal dissuasive from their pursuit, procure they bear an overpayment (refund) or inferiorpayment (tax to pay)?