Question
Jeremy (unmarried) earned $102,000 in salary and $6,100 in Interest income during the year. Jeremy's employer withheld $10,000 of federal income taxes from Jeremy's paychecks
Jeremy (unmarried) earned
$102,000
in salary and
$6,100
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 qualifles to file as head of household and has
$25,120
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
$4,040
. 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
$7,200
in itemized deductions. What is Jeremy's tax refund or tax due?\ Complete this question by entering your answers in the tabs below.\ Required A\ Required B\ Required C\ Assume the original facts except that Jeremy has only
$7,200
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.\ \\\\table[[Description,Amount],[(1) Gross income,],[(2) For AGI deductions,
$
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