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Jamie Lee Jackson, age 26, is in her last semester of college and is waiting for graduation day that is just around the corner! it

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Jamie Lee Jackson, age 26, is in her last semester of college and is waiting for graduation day that is just around the corner! it is the time of year again when Jamie Lee must file her annual federal income taxes. Lost year, she received an increase in salary from the bakery, which brought her gross monthly earnings to $3,250, and also opened up an IRA, to which she contributed $300 last year. Her savings accounts earn 2% interest per year, and she also had received on unexpected $2,200 gift from her great aunt. Jamie was also lucky enough lest year to win a raffle prize of $3,400, most of which was deposited into her fegular savings account after paying off her credit card balance. Estimate Jamie Lee's current tax liability by completing the form below. Use standard deduction (\$12,550). Each answer must have a value for the assignment to be complete. Enter " O " for any unused categories. Use 2021 tax rates Income: Gross monthly salary $3,250 Estimated Income Tax Gross income (wages, salary, investment income, and other ordinary income) Less adjustments to income (see current tax regulations) Equals adjusted gross income Less standard deduction Itemized deductions (whichever total is larger) Medical expenses (exceeding 10% of AGI) State/local income and property taxes Mortgage, home equity loan interest Contributions Casualty and theft losses Moving, job-related, and miscellaneous expenses (exceeding 2% of AGI) Total itemized deductions Standard deduction Equals taxable income Estimated tax Less tax credits Plus other taxes Equals total tax liability Less estimated withholding and payments Equals tax due (or refund)

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