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Brian and Kim have a 12-year-old child, Stan. For 2022, 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 2022, 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.
a. For purposes of the tax on a child's unearned income, calculate Stan's taxable income.
b. Calculate Stan's net unearned income.
c. Calculate Stan's tax for 2022.
d. If there was no kiddie tax and Stan were taxed at his own rate, what would the tax on Stans income be?
2022 The Tax Rate Schedules are shown so you can see the tax rate that applies Tax Rate to all levels of taxable income. Don't use them to figure your tax. Instead, see the instructions for line 16 . Schedules Schadula Z-If unu if filine etative is Haad of hnusahnd Note: The tax rate schedules for income of at least $100,000 are presented in the traditional "additive" format on this page and in the somewhat lesser used"deductive" style on Page A-3. Both formats will compute the same tax amounts for taxable income of at least $100,000
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