Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy's employer withheld $11,000 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. Answer is not complete. Amount $ 110,000 0 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Description Gross income For AGI deductions Adjusted gross income Standard deduction Itemized deductions Greater of standard deduction or itemized deductions Taxable income Income tax liability Child tax credit Tax withholding Tax due $ 110,000 18,000 23,000 23,000 $ 87,000 $ 1,200 20,000 X 11,200 X 2020 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9,875 10% of taxable income $ 9.875 $ 40,125 $987.50 plus 12% of the excess over $9,875 $ 40,125 $ 85,525 $4,617.50 plus 22% of the excess over $40,125 $ 85,525 $163,300 $14,605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271,50 plus 32% of the excess over $163,300 $207,350 $518,400 $47,367.50 plus 35% of the excess over $207,350 $518,400 $156,235 plus 37% of the excess over $518,400 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,750 10% of taxable income $ 19,750 $ 80.250 $1.975 plus 12% of the excess over $19.750 $ 80,250 $171,050 $9.235 plus 22% of the excess over $80.250 $171,050 $326,600 $29.211 plus 24% of the excess over $171,050 $326,600 $414,700 $66,543 plus 32% of the excess over $326,600 $414,700 $622,050 $94.735 plus 35% of the excess over $414,700 $622,050 $167,307 50 plus 37% of the excess over $622,050 Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 14,100 $ 14,100 $ 53,700 $ 53,700 $ 85,500 $ 85,500 $163.300 $163,300 $207,350 $207,350 $518,400 $518,400 The tax is: 10% of taxable income $1410 plus 12% of the excess over $14,100 $6,162 plus 22% of the excess over $53,700 $13,158 plus 24% of the excess over $85,500 $31,830 plus 32% of the excess over $163,300 $45,926 plus 35% of the excess over $207,350 $154,793.50 plus 37% of the excess over $518,400 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9,875 10% of taxable income $ 9,875 $ 40,125 $987 50 plus 12% of the excess over $9,875 $ 40,125 $ 85,525 $4,617.50 plus 22% of the excess over $40,125 $ 85 525 $ 163,300 $14.605 50 plus 24% of the excess over $85 525 $163,300 $207,350 $33,271 50 plus 32% of the excess over $163 300 $207,350 $311.025 $47,367.50 plus 35% of the excess over $207 350 $311,025 $83.653.75 plus 37% of the excess over $311.025