James and Becky Harris Are Filing a Joint Tax Return

question 30

Short Answer

James and Becky Harris are filing a joint tax return. Their adjusted gross income for the last year was $85,940. Itemized deductions are $12,200. Together they had $1,155 tax withheld each month from their pay checks.
A)What is their tax liability? (Use Exhibit 18-3 from your text)
B)Are they entitled to a refund or do they owe additional taxes? How much?

• A)What is their tax liability? (Use Exhibit 18-3 from your text)
• B)Are they entitled to a refund or do they owe additional taxes? How much?

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