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Required information The following information applies to the questions displayed below Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy's

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Required information The following information applies to the questions displayed below Jeremy earned $100,000 in salary and $6,000 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 $23,000 in itemized deductions. (Use the tax.rate schedules) a. Determine Jeremy's tax refund or taxes due. Required information Description Amount Gross income (1) $ 106.000 (2) For AGI deductions (3) Adjusted gross income $106,000 (4) Standard deduction 18,000 Itemized deductions Greater of standard deduction or itemized deductions (5) 23,000 23,000 (6) 83,000 (7) Taxable income 14,243 Income tax liability (8) 2,000 Child tax credit (9) 11.200 Tax withholding (10) Taxes refund b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,000. What is Jeremy's tax refund or tax due including the tax on the capital gain? Answer is not complete. Description Amount Gross income (1) $ 110,000 For AGI deductions (2) (3) Adjusted gross income 110,000 18,000 (4) Standard deduction 23.000 (5) Itemized deductions 23.000 Greater of standard deduction or itemized deductions (6) S 87.000 (7) Taxable income 13.828 Income tax liability (8) 2.000 Child tax credit (9) 11.200 (10) Tax withholding Taxes due Next> of 34

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