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Calculate Nick and Sarika tax liability

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Reference no: EM132847826

Question - Calculate Nick and Sarika's 2020 tax liability after tax credits based on the following information.

Nick and Sarika are married. They have two children, son Andre (age 5) and adopted daughter Lisa (age 3). During the year, Nick earns a salary of $137,600. They also have qualified dividend income of $18,973 from various stock holdings and interest income from a municipal bond of $4,350. They are filing as married filing jointly and taking the standard deduction (please round to the nearest dollar, no commas. For example, if your answer is $1,100.01, please enter 1100).

Reference no: EM132847826

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