Jeremy earned $101,800 in salary and $7,800 in interest income during the year. Jeremy's employer withheld $11,000
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Question:
Jeremy earned $101,800 in salary and $7,800 in interest income during the year. Jeremy's employer withheld $11,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependentchild who lives with him. Jeremy qualifies to file as head of household and has$31,200 in itemized deductions.
a.Determine Jeremy's tax refund or taxes due.
- gross income
- For AGI deductions
- Adjusted gross income
- standard deductions
- itemized deductions
- ?
- Taxable income
- Income tax liability
- Child tax credit
- Tax withholding
b.Assume that in addition to the original facts, Jeremy has a long-term capital gain of $12,550. What is Jeremy's taxrefund or tax due including the tax on the capital gain?
- gross income
- For AGI deductions
- Adjusted gross income
- standard deductions
- itemized deductions
- ?
- Taxable income
- Income tax liability
- Child tax credit
- Tax withholding
c.Assume the original facts except that Jeremy has only $7,000 in itemized deductions. What is Jeremy's tax refund or tax due?
- gross income
- For AGI deductions
- Adjusted gross income
- standard deductions
- itemized deductions
- ?
- Taxable income
- Income tax liability
- Child tax credit
- Tax withholding
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