Il ne osowlng mor maton apples to trie questions displayed below. Jeremy earned

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Il ne osowlng mor maton apples to trie questions displayed below. Jeremy earned $101,800 in salary and $7,800 in interest income during the year. Jeremy's employer withheld $11,200 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 $31,200 in itemized deductions. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due. Description Amount (1)Gross income (2) For AGl deduction:s (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding 0

Explanation / Answer

Part A

Part B

Part C

Description amount 1. Gross income (salary 101800+interest income 7800) 109600 2. for AGI deductions 0 3. adjusted gross income 109600 4. standard deduction (head of household) 18000 5. itemized deduction 31200 6. Greater of standard deductions or itemized deductions 31200 7 taxable income 78400 8. income tax liability (5944+((78400-51800)*22%) 11796 9. child tax credit 2000 10. tax Withholding 11200 Tax due 0

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