Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremys employer withheld $10,000 of federal income taxes from Jeremys 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.)

b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,000. What is Jeremys tax refund or tax due including the tax on the capital gain?

Gross Income: $110,000

For AGI deductions: $0

AGI: $110,000

Standard Deduction: $18,800

Itemized Deduction: 23,000

Taxable income: $87,000

Income tax liability: ?

Child tax credit: 3,000

tax withholding: 10,000

tax refund or taxes due: ?