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Determine the total 2018 tax due for charlene and dick storm

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Question

From the following information determine the total 2018 tax due for Charlene and Dick Storm, assuming they file a joint return, have three dependents, and are not members of a qualified retirement plan.

Dick's Wages $66,000

Charlene's Wages 41,000

Dick's Contribution to an IRA 2,000

Charlene's Contribution to an 800

IRA Charlene's SelfEmployment Income 80,000

Tax Preference Items 50,000

General Business Credit 7,000

Housing Interest 13,000

Consumer Interest 2,000

Property Taxes 12,000

Reference no: EM132315575

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