Jeremy earned $100,000 in salary and $6,000 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 qualifying dependent child who lives with him. Jeremy qualifies to file as head of household and has $23,000 in itemized deductions. (Use the tax rate schedules) a. Determine Jeremy's tax refund or taxes due. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income ces (4) Standard deduction (5) Itemized deductions (6) (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Amazon.com: Watch Dance Momis 5eason 41 Prime video Chapter a,1 Homework 2018 Tax Rate Schedules Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 9,525 $ 38,700 10% of taxable income 0 $952.50 plus 12% of the excess over $9,525 $4,453.50 plus 22% of the excess over $38,700 $ 9,525 $ 38,700 $ 82,500 $ 82,500 $14,089.50 plus 24 % of the excess over $82,500 $157,500 $32,089.50 plus 32% of the excess over $157,500 $157,500 $200,000 $500,000 $45,689.50 plus 35% of the excess over $200,000 $200,000 $150,689.50 plus 37% of the excess over $500,000 $500,000 Schedule Y-1-Married Filing Jointly or Qualifying Widow (er) If taxable income is over: But not over: The tax is: $19,050 $ 77,400 10% of taxable income $1,905 plus 12 % of the excess over $19,050 0 $19,050 $ 77,400 $8,907 plus 22% of the excess over $77,400 $165,000 $165,000 $315,000 $28,179 plus 249% of the excess over $165,000 $64,179 plus 329% of the excess over $315,000 $400,000 $315,000 $91,379 plus 359% of the excess over $400,000 $600,000 $400,000 $161,379 plus 379% of the excess over $600,000 $600,000 Schedule Z-Head of Household The tax is: If taxable income is over: But not over: 10 % of taxable income $ 13,600 S 51,800 0 $1,360 plus 12% of the excess over $13,600 $ 13,600 $ 51,800 $5,944 plus 22% of the excess over $51,800 $82,500 $ 82,500 $157,500 $12,698 plus 24% of the excess over $82,500 esc F4 F3 $ # 6 3 4 5 2 $28,179 plus 24% of the excess over $165,000 T5 000 $315,000 $315,000 $400,000 $64,179 plus 32% of the excess over $315,000 $400,000 $600,000 $91,379 plus 35 % of the excess over $400,000 $600,000 $161,379 plus 37% of the excess over $600,000 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 13,600 $ 51,800 $ 82,500 10% of taxable income $1,360 plus 12% of the excess over $13,600 $5,944 plus 22% of the excess over $51,800 $13,600 $ 51,800 82,500 $157,500 $12,698 plus 24% of the excess over $82,500 $30,698 plus 32% of the excess over $157,500 $44,298 plus 35% of the excess over $200,000 $149,298 plus 37% of the excess over $500,000 $157,500 $200,000 $200,000 $500,000 $500,000 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 9,525 $ 38,700 $ 82,500 10 % of taxable income $952.50 plus 12% of the excess over $9,525 $4,453.50 plus 22% of the excess over $38,700 $14,089.50 plus 24% of the excess over $82,500 $32,089.50 plus 32 % of the excess over $157,500 $ 9,525 $ 38,700 $ 82,500 $157,500 $157,500 $200,000 $45,689.50 plus 35% of the excess over $200,000 $200,000 $300,000 $80,689.50 plus 37% of the excess over $300,000 $300,000
