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I need help with this question. During 2015 David received $11,100 in interest from a Microsoft bond and he received another $2,200 in interest income
I need help with this question.
During 2015 David received $11,100 in interest from a Microsoft bond and he received another $2,200 in interest income from a money market account that his parents have been contributing to over the years. Davids parents are in the 25% marginal bracket. What amount of Kiddie tax, if any, is applicable to David?
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