Juan earned $100,800 in salary and $6,800 in interest income during the year. Juans employer...
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Accounting
Juan earned $100,800 in salary and $6,800 in interest income during the year. Juans employer withheld $11,000 of federal income taxes from Juans paychecks during the year. Juan has one qualifying dependent child who lives with him. Juan qualifies to file as head of household and has $26,200 in itemized deductions. (Use the tax rate schedules.)
a. Determine Juans tax refund or taxes due.
groo
ss income
for AGI
adjusted gross income
standard deduction
itemized deduction
greater of standard deductions or itemized
taxable income
income tax liability
child tax credit
tax withholding
due
b.Assume that in addition to the original facts, Juan has a long-term capital gain of $7,550. What is Juans tax refund or tax due including the tax on the capital gain?(Round your intermediate calculations and final answer to the nearest whole dollar amount.)
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