John and Susan File a Joint Income Tax Return for 2018.They

Essay

John and Susan file a joint income tax return for 2018.They have two dependent children, students, ages 19 and 20.John earns wages of $908,000 and John and Susan have interest income of $102,000.In 2018, they settle a state tax audit and pay $50,000 for back state taxes due to an overly aggressive tax-sheltered investment.Their other expenses for the year include:​ $$\begin{array} { l r } \text { Mortgage interest } & \$ 23,000 \\\text { Real estate taxes } & 12,000 \\\text { State taxes withheld } & 33,500 \\\text { Cash contributions } & 56,000 \\\text { CPA fees for assistance with the state audit } & 4,500\end{array}$$
a.Calculate John and Susan's 2018 regular tax and tentative minimum tax on the schedule provided.​​
b.How much is the total tax liability shown on John and Susan's 2018 Form 1040?