During all of 2011, Mr. and Mrs. Clay lived with their four children (all are under the age of 17). They provided over one-half of the support for each child. Mr. and Mrs. Clay filed jointly for 2011. Neither is blind, and both are under age 65. They reported the following tax-related information for the year:
Salary 125,000
Prize from a local radio station 1,500
Medical expenses (no health insurance) 4,000
Real estate taxes 4,200
Alimony paid by Mr. Clay 12,000
State income taxes withheld in 2011 1,800
State income taxes paid with 2011 tax return (filed in April 2012 1,500
Federal income tax withholding 7,500
Qualified home mortgage interest 11,000
Charitable contributions 4,000
A. What is clays' taxes payable or (refund due) (ignore the alternative minimum tax)
B. What is the Clays' tentative tax and alternative minimum tax?