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I just need the correct answer for the ones that are marked wrong please! ! Required information (The following information applies to the questions displayed
I just need the correct answer for the ones that are marked wrong please!
! Required information (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 $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 qualifies to file as head of household and has $23,000 in itemized deductions, including $2,000 of charitable contributions to his church. (Use the tax rate schedules.) c. Assume the original facts except that Jeremy has only $7,000 in itemized deductions, What is Jeremy's tax refund or tax due? Answer is complete but not entirely correct. Description Amount (1) Gross income $ 106,000 (2) For AGI deductions (3) Adjusted gross income $ 106,000 (4) Standard deduction 18,800 (5) Itemized deductions 7.000 (6) Greater of standard deduction or itemized deductions 18,800 (7) Charitable contribution 87,200 (8) Taxable income $ 0 (9) Income tax liability $ 13,497 (10) Child tax credit 3,000 (11) Tax withholding 10,000 Tax due $ 497 S $ ! Required information (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 $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 qualifies to file as head of household and has $23,000 in itemized deductions, including $2,000 of charitable contributions to his church. (Use the tax rate schedules.) c. Assume the original facts except that Jeremy has only $7,000 in itemized deductions, What is Jeremy's tax refund or tax due? Answer is complete but not entirely correct. Description Amount (1) Gross income $ 106,000 (2) For AGI deductions (3) Adjusted gross income $ 106,000 (4) Standard deduction 18,800 (5) Itemized deductions 7.000 (6) Greater of standard deduction or itemized deductions 18,800 (7) Charitable contribution 87,200 (8) Taxable income $ 0 (9) Income tax liability $ 13,497 (10) Child tax credit 3,000 (11) Tax withholding 10,000 Tax due $ 497 S $ Step by Step Solution
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