! Required information CARES Problem 4-29 (LO 4-1) (Static) [The following information applies to the questions displayed below.] Jeremy earned $100,000 in salary and $6,000 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 dependent child who lives with him. Jeremy qualifies to file as head of household and has $23,000 in itemized deductions. Assume CARES Act applies. (Use the tax rate schedules.) CARES Problem 4-29 Part-b (Static) b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,000. What is Jeremy's tax refund or tax due including the tax on the capital gain? (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction Answer is not complete. Description 56 (5) Itemized deductions (6) Greater of standard deduction or itemized deductions (7) Taxable income (8) Income tax liability (9) Credits (10) Tax withholding Tax refund Amount $ 110,000 0 $ 110,000 18,650 23,000 23,000 $ 87,000 $ 14,118 x 3,700 11,000