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Jeremy earned $95,000 in salary, $6,000 in interest income and a long-term capital gain of $4,000 during the year. Jeremy has two qualifying dependent children who live with him. He qualifies to file as head of household and has $17,000 in itemized deductions. Neither of his dependents qualifies for the child tax credit. Use the 2016 tax rate schedules to determine Jeremy's taxes due including the tax on the capital gain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92711858

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