Jeremy earned $101,500 in salary and $7,500 in interest income during the year. Jeremys employer withheld $11,000 of federal income taxes from Jeremys paychecks during the year. Jeremy has one qualifying dependent child who lives with him. Jeremy qualifies to file as head of household and has $29,700 in itemized deductions. (Use the tax rate schedules.)

c. Assume the original facts except that Jeremy has only $7,000 in itemized deductions. What is Jeremys tax refund or tax due?

Schedule Z-Head of Household

If taxable income is over:

But not over:

The tax is:

$ 0

$ 13,850

10% of taxable income

$ 13,850

$ 52,850

$1,385 plus 12% of the excess over $13,850

$ 52,850

$ 84,200

$6,065 plus 22% of the excess over $52,850

$ 84,200

$160,700

$12,962 plus 24% of the excess over $84,200

$160,700

$204,100

$31,322 plus 32% of the excess over $160,700

$204,100

$510,300

$45,210 plus 35% of the excess over $204,100

$510,300

$152,380 plus 37% of the excess over $510,300

Schedule Z-Head of Household

If taxable income is over:	But not over:	The tax is:
$ 0	$ 13,850	10% of taxable income
$ 13,850	$ 52,850	$1,385 plus 12% of the excess over $13,850
$ 52,850	$ 84,200	$6,065 plus 22% of the excess over $52,850
$ 84,200	$160,700	$12,962 plus 24% of the excess over $84,200
$160,700	$204,100	$31,322 plus 32% of the excess over $160,700
$204,100	$510,300	$45,210 plus 35% of the excess over $204,100
$510,300		$152,380 plus 37% of the excess over $510,300

	Description	Amount
1	Gross Income
2	For AGI deductions
3	Adjusted Gross income
4	Standard deduction
5	Itemized Deduction
6	standard or itemized deduction
7	Taxable Income
8	income liability
9	child tax credit
10	tax withholding
	Tax refund or Tax due