Stacie and Ryan are married and file jointly for the 2020 tax year.docx

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Stacie and Ryan are married and file jointly for the 2020 tax year. They have two sons. Their sons are age 10 and 14. Stacie and Ryan’s wages in total for the year was $133,000. Their employers withheld $18,000 in tax from their wages. In addition to the above, the following occurred the tax year: They moved several states away because of career relocation for Ryan. Their unreimbursed moving costs were $10,000. Stacie and Ryan pay $3,500 of the interest on a loan Ryan’s postsecondary education. Above the line deduction - $2,500 They paid $2,000 in medical insurance premiums for the year. In addition, they paid $1,000 for hospital stay after an emergency room trip for Stacie. The couple paid $250 for an accountant to prepare their taxes. Not
deductible Their accountant calculates that their total state income tax liability is $4,000. The couple pay all their state taxes for the year. Below the line - $10,000 Fill in the blank: Ignore your answer in a). Assume that Stacie and Ryan’s AGI for the year is $120,600. The amount of itemized

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