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[The following information applies to the questions displayed below.) Jeremy earned $102,100 in salary and $8,100 in Interest Income during the year. Jeremy's employer withheld
[The following information applies to the questions displayed below.) Jeremy earned $102,100 in salary and $8,100 in Interest Income during the year. Jeremy's employer withheld $10,000 of federal Income taxes from Jeremy's paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $32,700 in itemized deductions, including $2,000 of charitable contributions to his church. (Use the tax rate schedules.) Problem 4-29 Part-c (Algo) C. Assume the original facts except that Jeremy has only $7,000 in itemized deductions. What Is Jeremy's tax refund or tax due? Amount Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Itemized deductions $ 0 $ 0 (7) Charitable contribution (8) Taxable income (9) Income tax liability (10) Child tax credit (11) Tax withholding
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