During All of 2018,Mr AWhat Is the Clays' Taxes Payable or (Refund Due)(ignore the (All

question 81

Essay

During all of 2018,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 2018.Neither is blind,and both are under age 65.They reported the following tax-related information for the year: (Use the tax rate schedules)
$\begin{array} { l r } \text { Salary incorne } & \$ 125,000 \\\text { Prize from local radio station } & 1,500 \\\text { Medical expenses (no health insurance) } & 4,000 \\\text { Real estate taxes } & 4,200 \\\text { Alirnory paid by Mr. Clay (divorced in 2015) } & 12,000 \\\text { State incorne taxes withheld in } 2018 & 1,800 \\\text { State income taxes paid with } 2018 \text { tax return (return was filed in April, } & \\\text { 2019) } & 1,500 \\\text { Federal incorne tax withholdine } & 7,500 \\\text { Qualified horne mortgage interest (acquisition debt of } \$ 300,000 \text { ) } & 15,000 \\\text { Charitable contributions } & 4,000\end{array}$ A.What is the Clays' taxes payable or (refund due)(ignore the alternative minimum tax)?
B.What is the Clays' tentative minimum tax and alternative minimum tax?