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Required information [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
Required information [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.) 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 Gross income (1) (2) (3) For AGI deductions Adjusted gross income Standard deduction $ 0 18,650 Itemized deductions (5) (6) Greater of standard deduction or itemized deductions Taxable income $ (8) Income tax liability (9) Child tax credit (10) Tax withholding Tax due 2.000 11.000
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