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  3. chad and jess had the following income and deducti

Chad and Jess had the following income and deductions during 2021: Salaries...

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Accounting

Chad and Jess had the following income and deductions during 2021:

Salaries $110,000

Interest income 10,000

Itemized deductions 26,000

Taxes withheld during year 12,000

Calculate Chad and Jess tax liability due or refund. They file a joint tax return.

  1. $177 refund.
  2. $177 tax due.
  3. $12,177 refund.
  4. $12,177 tax due.

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