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Having issues calculating Income Tax Liability Required Informetlon The following Information applies to the questions displayed below Jeremy earned $101,100 In salary and $7,100 In

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Having issues calculating Income Tax Liability

Required Informetlon The following Information applies to the questions displayed below Jeremy earned $101,100 In salary and $7,100 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 quallfying dependent child who lives with him. Jeremy qualifies to file as head of household and has $27,700 In Itemized deductions. (Use the tax rate schedules.) c. Assume the original facts except that Jeremy had only $7,000 In ltemized deductions. What Is Jeremy's tax refund or tax due? Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (6) Greater of standard deduction or itemized deductions (7) Taxable income (8) Income tax liability () Child tax credit (10) Tax withholding 5 108,200 5 108,200 18,000 7,000 18,000 5 90,200 2,000 11,200 Taxes due

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