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c. Calculate Stan's tax for 2022 . $ X Feedback Check My Work Incorrect d. If there was no kiddie tax and Stan were taxed

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image text in transcribedimage text in transcribedimage text in transcribed c. Calculate Stan's tax for 2022 . $ X Feedback Check My Work Incorrect d. If there was no kiddie tax and Stan were taxed at his own rate, what would the tax on Stan's income be? $ X Unearned Income of Minor Children and Certain Students (LO 6.4) 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. 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. $x Feedback Check My Work To prevent income-shifting, the tax rules required the child to pay tax at the parent's rate, if higher (generally referred to as the "kiddie on unearned income from interest, dividends, and capital gains on stock sales. The tax on a child's unearned income applies to dependen children who are ages 18 or younger and full-time students ages 19 through 23 at the end of the year, who have at least one living paren who have "net unearned income" of more than $2,200. Although there is no statutory definition for a parent, the term is generally consid to mean a parent or step-parent of the child. b. Calculate Stan's net unearned income. $x 2022 Tax Rate to all levels of taxable income. Don't use them to figure your tax. Instead, CAUTION see the instructions for line 16. Schedules Schedule X-If your filing status is Single \begin{tabular}{|ccrr|} \hline Ifyourtaxableincomeis:Over- & Butnotover- & & Thetaxis:oftheamountover- \\ \hline$0 & $10,275 & ..10% & 10% \\ 10,275 & 41,775 & $1,027.50+12% & 10,275 \\ 41,775 & 89,075 & 4,807.50+22% & 41,775 \\ 89,075 & 170,050 & 15,213.50+24% & 89,075 \\ 170,050 & 215,950 & 34,647.50+32% & 170,050 \\ 215,950 & 539,900 & 49,335.50+35% & 215,950 \\ 539,900 & .. & 162,718.00+37% & 539,900 \\ \hline \end{tabular} Schedule Y-1-If your filing status is Married filing jointly or Qualifying widow(er) \begin{tabular}{|c|c|c|c|} \hline \multirow{2}{*}{Ifyourtaxableincomeis:Over-} & \multicolumn{3}{|c|}{ The tax is: } \\ \hline & Butnotover- & & oftheamountover- \\ \hline$0 & $20,550 & 10% & $0 \\ \hline 20,550 & 83,550 & $2,055.00+12% & 20,550 \\ \hline 83,550 & 178,150 & 9,615.00+22% & 83,550 \\ \hline 178,150 & 340,100 & 30,427.00+24% & 178,150 \\ \hline 340,100 & 431,900 & 69,295.00+32% & 340,100 \\ \hline 431,900 & 647,850 & 98,671.00+35% & 431,900 \\ \hline 647,850 & ........... & 174,253.50+37% & 647,850 \\ \hline \end{tabular} Schedule Y-2-If your filing status is Married filing separately \begin{tabular}{|c|c|c|c|} \hline If your taxable & & The tax is: & \\ \hline Over- & Butnotover- & & oftheamountover- \\ \hline$0 & $10,275 & 10% & $0 \\ \hline 10,275 & 41,775 & $1,027.50+12% & 10,275 \\ \hline 41,775 & 89,075 & 4,807.50+22% & 41,775 \\ \hline 89,075 & 170,050 & 15,213.50+24% & 89,075 \\ \hline 170,050 & 215,950 & 34,647.50+32% & 170,050 \\ \hline 215,950 & 323,925 & 49,335.50+35% & 215,950 \\ \hline 323,925 & .......... & 87,126.75+37% & 323,925 \\ \hline \end{tabular} Schedule Z-If your filing status is Head of household \begin{tabular}{|c|c|c|c|} \hline If your taxable & & The tax is: & \\ \hline incomeis:Over- & Butnotover- & & oftheamountover- \\ \hline$0 & $14,650 & 10% & \$o \\ \hline 14,650 & 55,900 & $1,465.00+12% & 14,650 \\ \hline 55,900 & 89,050 & 6,415.00+22% & 55,900 \\ \hline 89,050 & 170,050 & 13,708.00+24% & 89,050 \\ \hline 170,050 & 215,950 & 33,148.00+32% & 170,050 \\ \hline 215,950 & 539,900 & 47,836.00+35% & 215,950 \\ \hline 539,900 & .......... & 161,218.50+37% & 539,900 \\ \hline \end{tabular}

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