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During the current year, Gemaira, age 12 and single filing status, received $6,500 interest from a corporate bond and $600 interest from a savings account.
During the current year, Gemaira, age 12 and single filing status, received $6,500 interest from a corporate bond and $600 interest from a savings account. Gemaira is a dependent of her parents, both age 40 and married filing jointly. Gemaira's parents have taxable income of $500,000. Compute Gemairas tax liability for the current year.
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$595.
$1,680.
$1,795.
$2,083.
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