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Please answer parts A, B, and C. this is income tax. Required information Problem 4-28 (LO 4-1) (The following information applies to the questions displayed
Please answer parts A, B, and C. this is income
Required information Problem 4-28 (LO 4-1) (The following information applies to the questions displayed below] Jeremy earned $100,200 in salary and $6.200 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 $23,200 in itemized deductions. Use the tax rate schedules) Problem 4-28 Part-a a. Determine Jeremy's tax refund or taxes due Description Amount $ 106.400 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions $ 106,400 23 200 200 Tags (7) Taxable income (8) Income tax lability (9) Child tax credit (10) Tax withholding Required information Problem 4-28 (LO 4-1) [The following information applies to the questions displayed below] Jeremy earned $100,200 in salary and $6,200 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, 200 in itemized deductions. (Use the tax rate schedules.) Problem 4-28 Part-b b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4.550. What is Jeremy's tax refund or tax due including the tax on the capital gain? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Description (1) (2) For AGI deductions Adjusted gross income (4) (5) Standard deduction itemized deductions (9) Child tax credit (10) Tax withholding Required information Problem 4-28 (LO 4-1) [The following information applies to the questions displayed below) Jeremy earned $100,200 in salary and $6,200 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 $23,200 in itemized deductions. (Use the tax rate schedules) Problem 4-28 Part-c C. Assume the original facts except that Jeremy has only $7,000 in itemized deductions. What is Jeremy's tax refund or tax due? Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (7) Taxable income (8) Income tax liability (9) Child taxa (10) Tax withholding 019 Tax Rate Schedules A dividuals hedule X-Single f taxable income is over: But not over: The tax is: ANS $ 9.700 10% of taxable income S 9 .700 $ 39,475 S970 plus 12% of the excess over 59,700 $ 39,475 S 84,200 $4,543 plus 22% of the excess over 539,475 $ 84,200 $160,725 $14.382.50 plus 24% of the excess over $84,200 SAMAN $160.725 S 204,100 $32,748 50 plus 32% of the excess over $160,725 $204,100 $510,300 $46.628.50 plus 35% of the excess over $204,100 $510, 300 153.798 50 plus 37% of the excess over S510,300 Schedule Y1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19.400 10% of taxable income $ 19,400 $ 78,950 $1.940 plus 12% of the excess over $19,400 S 78,950 S 168,400 9,086 plus 22% of the excess over $78,950 $168.400 S321,450 $28,765 plus 24% of the excess over $168.400 $321,450 $408,200 $65,497 plus 32% of the excess over $321.450 S408,200 $612,350 $93.257 plus 35% of the excess over $408.200 5612,350 - $164,709.50 plus 37% of the excess over $612,350 Schedule Z Head of Household If taxable income is over: But not over: The tax is: S 13,850 10% of taxable income $ 13.850 S 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 S510,300 $45,210 plus 35% of the excess over $204,100 $510,300 $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ $ 9.700 10% of taxable income S 9.700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 S 84,200 $4,543 plus 22% of the excess over $39.475 0 tax.
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