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Callie is the 11-year-old daughter and dependent of Mr. and Mrs. Santo. This year, Callie filed a Form 1040 on which the only item of
Callie is the 11-year-old daughter and dependent of Mr. and Mrs. Santo. This year, Callie filed a Form 1040 on which the only item of gross income was $10,557 interest from an investment bond portfolio that Callie inherited from a great aunt. Assume Callie's parents are subject to a 24 percent marginal tax rate.
Required: Compute Callies income tax. Assume the taxable year is 2021. Use Appendix C.
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