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Jeremy earned $280,000 in salary and $7,000 in interest income during the year. Jeremy has two qualifying dependent children who live with him. He qualifies
Jeremy earned $280,000 in salary and $7,000 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 21,500 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 liabilit" to 2 decimal places.) a. Use the 2017 tax rate schedules to determine Jeremy's taxes due Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Personal and dependency exemptions (8) Taxable income Income tax liability
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