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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
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 $4,200. 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 $7,850 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 that in addition to the original facts, Jeremy has a long-term capital gain of $4,200. 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 Tax due Description Amount $ 119,150 0 $ 119,150 20,800 32,480 $ 119,150 $ 12,768 2,000 10,000 $ 768 < Required A Required C >
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Answer To determine Jeremys tax refund or taxes due we can follow these steps Required A Given Gross ...Get Instant Access to Expert-Tailored Solutions
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