Bill and Janet are a married couple filing jointly in 2022. They have one 12-year-old...

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Accounting

Bill and Janet are a married couple filing jointly in 2022. They have one 12-year-old child, Robert, whose only income in 2022 is $3,000 of interest income. Bill and Janets AGI in 2022 is $71,500, taxed at ordinary rates. Their only other deduction is the $25,900 standard deduction. Bill and Janet are eligible for a $2,000 child tax credit.

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