Question
[The following information applies to the questions displayed below.] Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremys employer withheld
[The following information applies to the questions displayed below.] Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremys employer withheld $11,000 of federal income taxes from Jeremys 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.
[The following information applies to the questions displayed below.] Determine Jeremy's Tax refund or taxes due.
1 Gross Income = 106,000
2 For AGI deductions= 0
3 Adjusted gross income = 106,000
4 Standard deduction= ?
5 Itemized deductions = 23,000
6 Greater of standard deduction or itemized deductions = 23,000
7 Taxable income = 83,000
8 Income tax liability = ?
9 Child tax credit = 2,000
10 Tax withholding = 11,000
Tax (refund) = ?
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