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(The following information applies to the questions displayed below.) Jeremy earned $101,900 in salary and $7,900 in interest income during the year. Jeremy's employer withheld

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(The following information applies to the questions displayed below.) Jeremy earned $101,900 in salary and $7,900 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 $31,700 in itemized deductions. (Use the tax rate schedules.) . Determine Jeremy's tax refund or taxes due. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Answer is complete but not entirely correct. Description Amount Gross income $ 109,800 For AGI deductions Adjusted gross income $ 109,800 Standard deduction 18,650 Itemized deductions 31,700 Greater of standard deduction or itemized deductions 31,700 Taxable income $ 78,100 Income tax liability $ 19,022 Child tax credit (2,000) Tax withholding (11,000) Tax refund 6,022 X Jeremy earned $101,900 in salary and $7,900 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 $31,700 in itemized deductions. (Use the tax rate schedules.) b. Assume that in addition to the original facts, Jeremy has a long-term capital gain of $13,050. What is Jeremy's tax refund or tax due including the tax on the capital gain? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Description Amount $ 0 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (6) (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding Jeremy earned $101,900 in salary and $7,900 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 $31,700 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 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions (6) (7) Taxable income (8) Income tax liability (9) Child tax credit (10) Tax withholding

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