Jeremy (unmarried) earned $100,300 in salary and $6,300 in interest income during the year. Jeremy’s employer withheld $10,000 of federal income taxes from Jeremy’s paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $23,300 in itemized deductions, including $2,000 of charitable contributions to his church. -Assume the original facts except that Jeremy has only $7,000 in itemized deductions. Assume the charitable contributions deductions for the non-itemized applies to 2022. What is Jeremy’s tax refund or tax due?
Jeremy (unmarried) earned $100,300 in salary and $6,300 in interest income during the year. Jeremy’s employer withheld $10,000 of federal income taxes from Jeremy’s paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $23,300 in itemized deductions, including $2,000 of charitable contributions to his church. -Assume the original facts except that Jeremy has only $7,000 in itemized deductions. Assume the charitable contributions deductions for the non-itemized applies to 2022. What is Jeremy’s tax refund or tax due?
Chapter14: Property Transact Ions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 67P
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Jeremy (unmarried) earned $100,300 in salary and $6,300 in interest income during the year. Jeremy’s employer withheld $10,000 of federal income taxes from Jeremy’s paychecks during the year. Jeremy has one qualifying dependent child (age 14) who lives with him. Jeremy qualifies to file as head of household and has $23,300 in itemized deductions, including $2,000 of charitable contributions to his church.
-Assume the original facts except that Jeremy has only $7,000 in itemized deductions. Assume the charitable contributions deductions for the non-itemized applies to 2022. What is Jeremy’s tax refund or tax due?
Transcribed Image Text:deduction for non-itemizers applies to 2022. What is Jeremy's tax refund or
Description
(1) Gross income
(2) For AGI deductions
(3) Adjusted gross income
(4) Standard deduction
(5) Itemized deductions
(7) Charitable contributions
(8) Taxable income
(9) Income tax liability
(10) Child tax credit
(11) Tax withholding
< Required B
$
Amount
0
0
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