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Required information [The following information applies to the questions displayed below.] Jeremy earned $102,400 in salary and $8,400 in interest income during the year. Jeremy's
Required information [The following information applies to the questions displayed below.] Jeremy earned $102,400 in salary and $8,400 in interest income during the year. Jeremy's employer withheld $11,200 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 $34,200 in itemized deductions. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due. Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions $ 110,800 $110,800 34,200 110,800 19,490 (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding
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