Question

not understanding how to get the tax liability and the tax withholdings?

Required information [The following information applies to the questions displayed below.) Jeremy earned $101,700 in salary and $7,700 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 $30,700 in itemized deductions. (Use the tax rate schedules.) a. Determine Jeremy's tax refund or taxes due. Answer is not complete. Amount $ 109,400 (1) (2) $ 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 109,400 18,000 $ 30,700 30,700 78,700 $ 2,000 (10)

Answer 1

109400 1 Gross Income 2 For AGI deduction 3 Adjusted gross income 4 Standard deduction 5 ltemized deduction 6 Greater of Standard deduction or itemized deduction 7 Taxable income 8 Income Tax Liability (see below calculation) 9 Child Tax Credit 10 Tax withholding Net Tax due 109400 12200 30700 30700 78700 13172.5 2000 11000 172.5 or $173 2019 Tax Rates $0 to $9,700 $9,701 to $39,475 $39,476 to $78,700 970 3573 8629.5 10% 12% 22% Income Tax liability 13172.5