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Brian and Kim have a 12-year-old child, Stan. For 2020, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500.
Brian and Kim have a 12-year-old child, Stan. For 2020, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. No election is made to include Stan's income on Brian and Kim's return.
Click here to access the income tax rate schedules.
a. For purposes of the tax on a child's unearned income, calculate Stan's taxable income. fill in the blank $3400
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b. Calculate Stan's net unearned income. fill in the blank _$2300
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c. Calculate Stan's tax for 2020.
fill in the blank____
trouble figuring out Stan's tax
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