Question

Jeremy earned $100,000 in salary and $6,000 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 qualifies to file as head of household and has $23,000 in itemized deductions. (Use the tax rate schedules.) termine Jeremy's tax refund or taxes due. Amount $ 106,000 $ 106,000 Description Gross income For AGI deductions Adjusted gross income Standard deduction Itemized deductions Greater of standard deduction or itemized deductions Taxable income Income tax liability Child tax credit Tax withholding Tax refund 23,000 23,000 83,000 $

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Answer 1

Tax Rate	Taxable Income (Head of Household)	Tax calculation
10%	Up to $13,600	$              1,360
12%	$13,601 to $51,800	$              4,584
22%	$51,801 to $82,500	$              6,754
24%	$82,501 to $157,500	$                 120
	Total Tax	$           12,817
	Child Tax Credit	$           (2,000)
	Tax Withholding	$         (11,000)
	Tax Refund	$               (183)