6. Award: 0.62 points Problem 14-09 (Static) [LO 14-3, 14-4, 14-5] Mr. and Mrs. Daku...
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6. Award: 0.62 points Problem 14-09 (Static) [LO 14-3, 14-4, 14-5] Mr. and Mrs. Daku have the following income items: Mr. Daku's salary Mrs. Daku's Schedule C net profit Interest income $ 52,500 41,800 1,300 Mrs. Daku's self-employment tax was $5,906. Mrs. Daku's Schedule C net business profit is qualified business income (non-service). The couple have $8,070 itemized deductions and no children or other dependents Required: Compute their income tax on a joint return. Assume the taxable year is 2021. Use Individual Tax Rate Schedules and Standard Deduction Table. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Amount AGI Taxable income Income tax References Worksheet Difficulty: 2 Medium Learning Objective: 14-04 Identify the impact of the QBI deduction on taxable income. Problem 14-09 (Static) [LO 14-3, 14-4, 14-5) Learning Objective: 14- Learning Objective: 14-05 Compute the regular 03 Explain the tax on ordinary income. relationship between the standard deduction and itemized deductions
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