Required A Required B Required C Determine Jeremy's tax refund or taxes due. Note: Round your...

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Required A Required B Required C Determine Jeremy's tax refund or taxes due. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Description Amount $ 0 $ 0 Jeremy (unmarried) earned $104,000 in salary and $6,200 in interest income during the year. Jeremy's employer withheld $10,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $27,240 in itemized deductions. (Use the tax rate schedules, Tax rates for Net Capital Gains and Qualified Dividends.) Required: a. Determine Jeremy's tax refund or taxes due. b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,080. What is Jeremy's tax refund or tax due including the tax on the capital gain? c. Assume the original facts except that Jeremy has only $7,400 in itemized deductions. What is Jeremy's tax refund or tax due? Required A Required B Required C Assume the original facts except that Jeremy has only $7,400 in itemized deductions. What is Jeremy's tax refund or tax due? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income. (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Amount $ 0 $ 0 2023 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over:| $ 0 $ 11,000 $ 11,000 $ 44,725 $ 95,375 $182,100 $231,250 $ 44,725 $ 95,375 $ 182,100 $231.250 $ 578,125 $ 578,125 The tax is: 10% of taxable income $1,100 plus 12% of the excess over $11,000 $5,147 plus 22% of the excess over $44,725 $16,290 plus 24% of the excess over $95,375 $37,104 plus 32% of the excess over $182,100 $52,832 plus 35% of the excess over $231,250 $174,238.25 plus 37% of the excess over $578,125 Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse If taxable income is over: But not over: $ 0 $ 22,000 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 $ 22,000 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 The tax is: 10% of taxable income $2,200 plus 12% of the excess over $22,000 $10,294 plus 22% of the excess over $89,450 $32,580 plus 24% of the excess over $190,750 $74,208 plus 32% of the excess over $364,200 $105,664 plus 35% of the excess over $462,500 $186,601.5 plus 37% of the excess over $693,750 Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 15,700 $ 59,850 $ 95,350 $ 182,100 $ 231,250 $ 578,100 $ 15,700 $ 59,850 $ 95,350 $182,100 $231,250 $ 578,100 The tax is: 10% of taxable income $1,570 plus 12% of the excess over $15,700 $6,868 plus 22% of the excess over $59,850 $14,678 plus 24% of the excess over $95,350 $35,498 plus 32% of the excess over $182,100 $51,226 plus 35% of the excess over $231,250 $172,623.5 plus 37% of the excess over $578,100 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 0 $ 11,000 $ 44,725 $ 95,375 $182,100 $231,250 $346,875 $ 11,000 $ 44,725 The tax is: 10% of taxable income $1,100 plus 12% of the excess over $11,000 $ 95,375 $5,147 plus 22% of the excess over $44,725 $182.100 $16,290 plus 24% of the excess over $95,375 $231,250 $37,104 plus 32% of the excess over $182,100 $346,875 $52,832 plus 35% of the excess over $231,250 $93,300.75 plus 37% of the excess over $346,875 Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* 0% Married Filing Jointly $0-$89,250 Married Filing Separately $0-$44,625 Single 15% - $89,251 $553,850 20% $553,851+ $44,626 - $276,900 $276,901+ $0 - $44,625 $44,626 $492,300 Head of Household $0-$59,750 $492,301+ $59,751 $523,050 $523,051+ "This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). Trusts and Estates $0-$3,000 $3,001 - $14,650 $523,051+ Required A Required B Required C Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,080. What is Jeremy's tax refund or tax due including the tax on the capital gain? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Description Amount $ 0 $ 0 Required A Required B Required C Determine Jeremy's tax refund or taxes due. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Description Amount $ 0 $ 0 Jeremy (unmarried) earned $104,000 in salary and $6,200 in interest income during the year. Jeremy's employer withheld $10,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $27,240 in itemized deductions. (Use the tax rate schedules, Tax rates for Net Capital Gains and Qualified Dividends.) Required: a. Determine Jeremy's tax refund or taxes due. b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,080. What is Jeremy's tax refund or tax due including the tax on the capital gain? c. Assume the original facts except that Jeremy has only $7,400 in itemized deductions. What is Jeremy's tax refund or tax due? Required A Required B Required C Assume the original facts except that Jeremy has only $7,400 in itemized deductions. What is Jeremy's tax refund or tax due? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income. (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Amount $ 0 $ 0 2023 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over:| $ 0 $ 11,000 $ 11,000 $ 44,725 $ 95,375 $182,100 $231,250 $ 44,725 $ 95,375 $ 182,100 $231.250 $ 578,125 $ 578,125 The tax is: 10% of taxable income $1,100 plus 12% of the excess over $11,000 $5,147 plus 22% of the excess over $44,725 $16,290 plus 24% of the excess over $95,375 $37,104 plus 32% of the excess over $182,100 $52,832 plus 35% of the excess over $231,250 $174,238.25 plus 37% of the excess over $578,125 Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse If taxable income is over: But not over: $ 0 $ 22,000 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 $ 22,000 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 The tax is: 10% of taxable income $2,200 plus 12% of the excess over $22,000 $10,294 plus 22% of the excess over $89,450 $32,580 plus 24% of the excess over $190,750 $74,208 plus 32% of the excess over $364,200 $105,664 plus 35% of the excess over $462,500 $186,601.5 plus 37% of the excess over $693,750 Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 15,700 $ 59,850 $ 95,350 $ 182,100 $ 231,250 $ 578,100 $ 15,700 $ 59,850 $ 95,350 $182,100 $231,250 $ 578,100 The tax is: 10% of taxable income $1,570 plus 12% of the excess over $15,700 $6,868 plus 22% of the excess over $59,850 $14,678 plus 24% of the excess over $95,350 $35,498 plus 32% of the excess over $182,100 $51,226 plus 35% of the excess over $231,250 $172,623.5 plus 37% of the excess over $578,100 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 0 $ 11,000 $ 44,725 $ 95,375 $182,100 $231,250 $346,875 $ 11,000 $ 44,725 The tax is: 10% of taxable income $1,100 plus 12% of the excess over $11,000 $ 95,375 $5,147 plus 22% of the excess over $44,725 $182.100 $16,290 plus 24% of the excess over $95,375 $231,250 $37,104 plus 32% of the excess over $182,100 $346,875 $52,832 plus 35% of the excess over $231,250 $93,300.75 plus 37% of the excess over $346,875 Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* 0% Married Filing Jointly $0-$89,250 Married Filing Separately $0-$44,625 Single 15% - $89,251 $553,850 20% $553,851+ $44,626 - $276,900 $276,901+ $0 - $44,625 $44,626 $492,300 Head of Household $0-$59,750 $492,301+ $59,751 $523,050 $523,051+ "This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose). Trusts and Estates $0-$3,000 $3,001 - $14,650 $523,051+ Required A Required B Required C Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,080. What is Jeremy's tax refund or tax due including the tax on the capital gain? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Description Amount $ 0 $ 0

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Required A 1 Gross income 104000 6200 110200 2 For AGI deductions 0 3 Adjusted gross income 110200 4 ... View the full answer