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  3. 1 of 3 required information (the following informa

1 of 3 Required information (The following information applies to the questions displayed below.) Jeremy...

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Accounting

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1 of 3 Required information (The following information applies to the questions displayed below.) Jeremy earned $100,500 in salary and $6,250 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 qualifles to file as head of household and has $27,200 in itemized deductions. Assume CARES Act applies. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due (assume Jeremy did not receive the recovery rebate in advance of filing his tax return). (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Answer is not complete. Description Amount Gross income $ 106,750 For AQI deductions Adjusted gross income $ 100.750 Standard deduction 18,6506 tomized deductions 27,200 Greator of standard deduction or itemized deductions 27.200 Taxable incomo $ 79,550 Income tax liability $ 11.840 Credits (2,000 Tax withholding 11.000 Tax (refund) 1000 %

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