1. If you have to round any numbers, round them to the nearest dollar. Use...
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1. If you have to round any numbers, round them to the nearest dollar. Use the following facts as well as the married filing jointly (MFJ) tax rate table found in Appendix A to this test to answer the following questions. William and Ava are married. Ava works as a high school counselor and William is a self-employed artist. William does not f. What are William and Ava's itemized deductions? Enter the amount of each itemized deduction separately in the boxes below. You may not use all of the boxes. If there are more boxes than you need, leave the ones you don't need blank. (5 points) g. In the box below, sum the items that you list above in part f and enter total itemized deductions. (1 point) Total itemized deductions: h. Will William and Ava itemize their deductions in 2022 or take the standard deduction? Circle your answer below. (2 points) Itemize Standard Deduction i. If William and Ava qualify for a Qualified Business Income (QBI) Deduction, then enter the amount of the deduction below. If they do not qualify for the QBI deduction, then enter zero in box ( 2 points)
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1. If you have to round any numbers, round them to the nearest dollar. Use the following facts as well as the married filing jointly (MFJ) tax rate table found in Appendix A to this test to answer the following questions. William and Ava are married. Ava works as a high school counselor and William is a self-employed artist. William does not f. What are William and Ava's itemized deductions? Enter the amount of each itemized deduction separately in the boxes below. You may not use all of the boxes. If there are more boxes than you need, leave the ones you don't need blank. (5 points) g. In the box below, sum the items that you list above in part f and enter total itemized deductions. (1 point) Total itemized deductions: h. Will William and Ava itemize their deductions in 2022 or take the standard deduction? Circle your answer below. (2 points) Itemize Standard Deduction i. If William and Ava qualify for a Qualified Business Income (QBI) Deduction, then enter the amount of the deduction below. If they do not qualify for the QBI deduction, then enter zero in box ( 2 points) 