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Can you help me solve part b? aessighment/takeAssignmentMain.do?invoker assignments&takeAssignmentSessionLocator assignment-take&inprogress-fals eBook Calculator Exercise 3-21 (LO. 7) Simon, age 12, generates $4,800 interest income and no
Can you help me solve part b?
aessighment/takeAssignmentMain.do?invoker assignments&takeAssignmentSessionLocator assignment-take&inprogress-fals eBook Calculator Exercise 3-21 (LO. 7) Simon, age 12, generates $4,800 interest income and no earned income for 2018. He incurs no investment expenses. te schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. a. Simon's net unearned income. 2,700 270) X b. Simon's total Federal income tax liability. Feedback Y Check My Work To reduce the tax savings that result from shifting income from parents to children, the net unearned income (commonly called investmer income) of certain children is taxed using special rules. This provision, commonly referred to as the kiddie tax, applies to any child who is age 19 (or under age 24 if a full-time student) Step by Step Solution
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