During All of 2019, Mr 1What Are the Clays' Taxes Payable or Refund Due? (Ignore

question 116

Essay

During all of 2019, Mr.and Mrs.Clay lived with their four children (all are under the age of 17).They provided over one-half of the support for each child.Mr.and Mrs.Clay file jointly for 2019.Neither is blind, and both are under age 65.They reported the following tax-related information for the year.(Use the tax rate schedules)
$\begin{array}{llcc} \text {Salary income } &\$125,000 \\ \text {Prize from local radio station } &1,500\\ \text {Medical expenses (no health insurance) } &4,000\\ \text {Real estate taxes } &4,200\\ \text { Alimony paid by Mr. Clay (divorced in 2015) } &12,000\\ \text {State income taxes withheld in 2019 } &1,800\\ \text { State income taxes paid with 2019 tax return (return was filed in April } & \\ \text { 2020) } &1,500\\ \text {Federal incometax withholding } &7,500\\ \text {Qualified home mortgage interest (acquisition debt of \$ 300,000) } &15,000\\ \text { Charitable contributions } &4,000\\\end{array}$
1.What are the Clays' taxes payable or refund due? (Ignore the alternative minimum tax.)
2.What are the Clays' tentative minimum tax and alternative minimum tax?

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