Question
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
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.
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Determine Jeremys tax refund or taxes due.
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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?
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Assume the original facts except that Jeremy has only $7,000 in itemized deductions. What is Jeremys tax refund or tax due?
PLEASE USE 2021 TAX TABLE
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