Question
Jeremy earned $190,000 in salary and $6,000 in interest income during the year. Jeremy has two qualifying dependent children who live with him. He qualifies
Jeremy earned $190,000 in salary and $6,000 in interest income during the year. Jeremy has two qualifying dependent children who live with him. He qualifies to file as head of household and has $17,000 in itemized deductions. Neither of his dependents qualifies for the child tax credit. (use the tax rate schedules.). (Do not round intermediate calculations. Round "Income tax liability" to 2 decimal places.)
Use the 2015 tax rate schedules to determine Jeremys taxes due
1) Gross Income
2) For AGI deductions
3) Adjusted Gross Income
4) Standard Deductions
5) Itemized deductions
6) Personal and Dependancy deductions
7) Taxable Income
8) Income tax liability
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