LO 6.7 28. Brian and Kim have a 12-year-old child, Stan. For 2010, Brian and Kim have

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LO 6.7 28. Brian and Kim have a 12-year-old child, Stan. For 2010, Brian and Kim have taxable income of $52,000, and Stan has nonqualifying dividend income of $4,500 and investment expenses of $250. No election is made to include Stan’s income on Brian and Kim’s return.

a. For purposes of the parental tax, calculate Stan’s net unearned income. $____________

b. Calculate the amount of Stan’s parental tax. $____________

c. Calculate Stan’s total tax for 2010. $____________

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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