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Brian and Kim have a 12 year old child, stan. For 2017, brian and Kim have taxable income of 52,000, and Stan has nonqualifying dividend
Brian and Kim have a 12 year old child, stan. For 2017, brian and Kim have taxable income of 52,000, and Stan has nonqualifying dividend income of $4500 and investment expenses of $250. No election is made to include Stans income on Brian and Kim's return.
A. For purposes of the tax on a child's unearned income , calculate stand net unearned income.
B. Calculate the amount of Stans tax at his parents rate.
C. Calculate stans total tax for 2017.
Assume a 10% rate on regular taxable income.
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