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Girl, age 14, is a dependent of her parents. Her only source of income in 2020 is $6,000 of interest income on bonds given her
Girl, age 14, is a dependent of her parents. Her only source of income in 2020 is $6,000 of interest income on bonds given her by her grandparents. Girls marginal tax rate is 10%, and her parent's marginal tax rate is 35%. Girls tax for 2020 is (kiddie tax rules for 2020)
A) $1,200.
B) $1,440.
C) $2,200
D) $6,000.
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