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Required information [The following information applies to the questions displayed below.) Jeremy earned $100,300 in salary and $6,300 in interest income during the year. Jeremy's
Required information [The following information applies to the questions displayed below.) Jeremy earned $100,300 in salary and $6,300 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 and qualifies him for a $2,000 child tax credit. Jeremy qualifies to file as head of household and has $23,700 in itemized deductions. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due. Description Amount $ 106,600 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions 0 106,600 $ $ 106,600 (6) (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding ! Required information (The following information applies to the questions displayed below.) Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the home. She received a salary of $60,000 and contributed $4,400 of it to a qualified retirement account (a for AGI deduction). She also received $7,000 of alimony from her former husband (per divorce decree issued in 2017, so alimony is included in gross income). Finally, Camille paid $15,500 of expenditures that qualified as itemized deductions. (Use the tax rate schedules and 2019 rules.) b. What would Camille's taxable income be if she incurred $10,100 of itemized deductions instead of $15,500? Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) mized deductions $ 0 (6) Taxable income Required information [The following information applies to the questions displayed below.) Camille Sikorski was divorced in 2017. She currently provides a home for her 15-year-old daughter Kaly. Kaly lived in Camille's home for the entire year, and Camille paid for all the costs of maintaining the home. She received a salary of $60,000 and contributed $4,400 of it to a qualified retirement account (a for AGI deduction). She also received $7,000 of alimony from her former husband (per divorce decree issued in 2017, so alimony is included in gross income). Finally, Camille paid $15,500 of expenditures that qualified as itemized deductions. (Use the tax rate schedules and 2019 rules.) a. What is Camille's taxable income? Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions $ 0 (6) Taxable income
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