Still very confuesed can some one help me understand this: Comprehensive Problem

Question

Still very confuesed can some one help me understand this:

Comprehensive Problem<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Tim and Monica Nelson are married, file a joint return, and are your newest tax clients. They provide you with the following information relating to their 2012 tax return:

1. Tim works as a pediatrician for the county hospital. The W-2 form he received from the hospital shows wages of $150,000 and state income withheld of $8,500.

2. Monica spends much of her time volunteering, but also works as a substitute teacher for the local schools. During the year, she spent 900 hours volunteering. When she doesn

Explanation / Answer

Hi, I'm calculating their taxable income to be $100,377. Their net income is comprised of their wages of $153,888 plus their net capital gains of $17,200 including the gain on the real estate they donated. Total is $171,088. Their itemized deductions are $63,311. This is the total of their state income tax, interest from their home loan, home equity loan, and $51,326 charitable donation of the real estate. The donation is limited to 30% of their AGI. The remainder is carried forward. Their income is too high for them to deduct medical job expenses.

********I need to know a few things

the net income and deductions when subtracted don't equal the given taxable income. can you please give all forms of income and deductions. Please list them individually with name of deduction and their value. If there is a percentage of the amount please list

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