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6-8Unearned Income of Minor Children and Certain Students (LO 6.4)Goldie and Kurt have a 12-year-old child, Wyatt. For 2023, Goldie and Kurt have taxable income
6-8Unearned Income of Minor Children and Certain Students (LO 6.4)Goldie and Kurt have a 12-year-old child, Wyatt. For 2023, Goldie and Kurt have taxable income of $101,000, and Wyatt has interest income of $4,700. No election is made toinclude Wyatt's income on Goldie and Kurt's return.a. For purposes of the tax on a child's unearned income, calculate Wyatt's taxable income.b. Calculate Wyatt's net unearned income
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