Holly and Ken (Both Age 46) Are Married and Have

question 27

Multiple Choice

Holly and Ken (both age 46) are married and have two children living at home: Sara is 19 and earned $19,000 as a secretary. Claudia is 15 and is in high school. Claudia made $4,200 as a model this year, all of which was put into a trust account except for her manager's fee. Ken made $67,200 as an engineer and Holly earned $7,000 as a substitute teacher. If they have $18,000 of itemized deductions, what is Holly and Ken's tax liability on their joint return in 2018 after any allowable credits?

• A) $1,643.00
• B) $3,643.00
• C) $5,643.00
• D) $6,287.50

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Definitions:

Microvilli

Finger-like protrusions from the surface of some cells, increasing their surface area for absorption.

Cilia

Microscopic, hair-like structures on the surface of cells, moving fluid or mucus across the cell surface.

Absorption

The process by which substances are taken up by the body, often referring to nutrients and drugs through the gastrointestinal tract.

Mitochondria

Membrane-bound cell organelles responsible for generating most of the cell's supply of ATP, used as a source of chemical energy.