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Jamie Lee Jackson. age 26. is in her last semester of college and is waiting for graduation day that is just around the cornert it is the time of year again when Jamie Lee must file het annual federal income taxes. Last year, she received an increase in salary from the bokery, which brought her gross monthly earnings to $2550, and also opened up an IRA, to which she contributed $300 last year, Her savings accounts eam 29 interest per yeac, and she also had received an unexpected $1,500g ift from her great aunt. Jamie was aiso lucky enough last year to win a raffe prize of $2,000, most of which was deposited into her regular savings account after paying off her credit card balance. Estimate Jamie Lee's current tax liabinty by completing the form below. Use standard deduction ($6.300) and personal exemption ($4,050). Each answer must have a value for the assignment to be complete. Enter "O" for any unused categones. Use 2017 taxctates Estimated Income Tax Gross income (wages, salary, investment incorne, and other ordinary income) Less adjustments to income (see currert tax regulations) Equals adusted gross income Less standard deduction (use 2016 amounts) or itemized deductions (whichever total is larger) Itemized deductions (f using) Medical expenses (exeeding 10\%t of AGI) Statelocal income and property taxes Mortgage, home equily loan interest Contributions Casualty and thet losses Moving. job-relaxed, and miscelareaous expenses (exceeding 2% of AGI) Total itemized deductons Larger of standard or itemized deductions Less personal exemptions Equals taxabie inoome Estimated tax Leas tas eredits Plus other tases Equars total tar liabity Less estmated wihholding and poymenta Equals tax due (or refund) Jamie Lee Jackson. age 26. is in her last semester of college and is waiting for graduation day that is just around the cornert it is the time of year again when Jamie Lee must file het annual federal income taxes. Last year, she received an increase in salary from the bokery, which brought her gross monthly earnings to $2550, and also opened up an IRA, to which she contributed $300 last year, Her savings accounts eam 29 interest per yeac, and she also had received an unexpected $1,500g ift from her great aunt. Jamie was aiso lucky enough last year to win a raffe prize of $2,000, most of which was deposited into her regular savings account after paying off her credit card balance. Estimate Jamie Lee's current tax liabinty by completing the form below. Use standard deduction ($6.300) and personal exemption ($4,050). Each answer must have a value for the assignment to be complete. Enter "O" for any unused categones. Use 2017 taxctates Estimated Income Tax Gross income (wages, salary, investment incorne, and other ordinary income) Less adjustments to income (see currert tax regulations) Equals adusted gross income Less standard deduction (use 2016 amounts) or itemized deductions (whichever total is larger) Itemized deductions (f using) Medical expenses (exeeding 10\%t of AGI) Statelocal income and property taxes Mortgage, home equily loan interest Contributions Casualty and thet losses Moving. job-relaxed, and miscelareaous expenses (exceeding 2% of AGI) Total itemized deductons Larger of standard or itemized deductions Less personal exemptions Equals taxabie inoome Estimated tax Leas tas eredits Plus other tases Equars total tar liabity Less estmated wihholding and poymenta Equals tax due (or refund)

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