Jeremy earned $102,100 in salary and $8,100 in interest income during the year. Jeremy’s employer withheld...

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Accounting

Jeremy earned $102,100 in salary and $8,100 in interest incomeduring the year. Jeremy’s employer withheld $11,200 of federalincome taxes from Jeremy’s paychecks during the year. Jeremy hasone qualifying dependent child who lives with him. Jeremy qualifiesto file as head of household and has $32,700 in itemizeddeductions. (Use the tax rate schedules.)
A.) Determine Jeremy's tax refund.
B.) Assume that in addition to the original facts, Jeremy has along-term capital gain of $14,050. What is Jeremy's tax dueincluding the tax on capital gain?
C.) Assume that the original facts except that Jeremy only had$7,000 in itemized deductions. What is Jeremy's tax due?

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Ansa Calculation of tax No Particulars Amount 1 Gross Income 110200 1021008100 2 For AGI deductions 3 Adjusted gross income 110200 4 Standard deduction 18000 5 Itemized deduction 32700 6 Greater of standard deduction or itemized deduction 32700 7 Taxable Income 36 77500 8 Income tax liability 11598 See Answer

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