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Brian and Kim have a 12-year-old child, Stan. For 2016, Brian and Kim have taxable income of $52,000, and Stan has nonqualifying dividend income of
Brian and Kim have a 12-year-old child, Stan. For 2016, 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 Stans income on Brian and Kims return.
a. For purposes of the tax on a childs unearned income, calculate Stans net unearned income $
b. Calculate the amount of Stans tax at his parent rates $
c. calculate Stans total tax for 2016. $
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