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! Required information [The following information applies to the questions displayed below.) Jeremy earned $101,700 in salary and $7,700 in interest income during the year.
! Required information [The following information applies to the questions displayed below.) Jeremy earned $101,700 in salary and $7,700 in interest income during the year. Jeremy's employer withheld $10,000 of federal income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $30,700 in itemized deductions, including $2,000 of charitable contributions to his church. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due If taxable income is over:But not over: The tax is: $ 0 $ 9,950 10% of taxable income $ 9,950 $ 40,525 $995 plus 12% of the excess over $9,950 $ 40,525 $ 86,375 $4,664 plus 22% of the excess over $40,525 $ 86,375 $164,925 $14,751 plus 24% of the excess over $86,375 $164,925 $ 209,425 $33,603 plus 32% of the excess over $164,925 $ 209,425 $ 523,600 $47,843 plus 35% of the excess over $209,425 $ 523,600 $157,804.25 plus 37% of the excess over $523,600 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over:But not over: The tax is: $ 0 $ 19,900 10% of taxable income $ 19,900 $ 81,050 $1,990 plus 12% of the excess over $19,900 $ 81,050 $ 172,750 $9,328 plus 22% of the excess over $81,050 $ 172,750 $ 329,850 $29,502 plus 24% of the excess over $172,750 $ 329,850 $ 418,850 $67,206 plus 32% of the excess over $329,850 $ 418,850 $ 628,300 $95,686 plus 35% of the excess over $418,850 S 628,300 $168.993.50 plus 37% of the excess over $628,300 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: S 0 S 14,200 10% of taxable income S 14,200 S 54,200 $1,420 plus 12% of the excess over $14,200 S 54,200 S 86,350 S6,220 plus 22% of the excess over $54,200 S 86,350 S 164,900 $13,293 plus 24% of the excess over $86,350 S 164,900 $ 209,400 $32,145 plus 32% of the excess over $164,900 S209 in Son ODDEL Ovo TEL $ 19,900 $ 81,050 $ 172,750 $329,850 $ 418,850 $ 628,300 $ 81,050 $1,990 plus 12% of the excess over $19,900 $ 172,750 $9,328 plus 22% of the excess over $81,050 $329,850 $29,502 plus 24% of the excess over $172,750 $ 418,850 $67,206 plus 32% of the excess over $329,850 $ 628,300 $95,686 plus 35% of the excess over $418,850 $168,993.50 plus 37% of the excess over $628,300 Schedule Z-Head of Household If taxable income is over:But not over: The tax is: $ 0 $ 14,200 10% of taxable income $ 14,200 $ 54,200 $1,420 plus 12% of the excess over $14,200 $ 54,200 $ 86,350 $6,220 plus 22% of the excess over $54,200 $ 86,350 $ 164,900 $13,293 plus 24% of the excess over $86,350 $ 164,900 $ 209,400 $32,145 plus 32% of the excess over $164,900 $ 209,400 $ 523,600 $46,385 plus 35% of the excess over $209,400 $ 523,600 $156,355 plus 37% of the excess over $523,600 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: S 0 $ 9,950 10% of taxable income S 9,950 S 40,525 $995 plus 12% of the excess over $ 9,950 $ 40,525 S 86,375 $4,664 plus 22% of the excess over $40,525 S 86,375 S 164,925 $14,751 plus 24% of the excess over $86,375 S 164,925 S 209,425 S33,603 plus 32% of the excess over $164,925 S 209,425 S 314,150 $47,843 plus 35% of the excess over $209,425 S 314,150 $84,496.75 plus 37% of the excess over $314,150 Amount Description (1) Gross income 2) For AGI deductors 3) Agusted gross income 4 Standard deduction (5) ftemized deductors $ (7) Taate income 8) Income tality 9) Child te creo (10) Tas wheiding +
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