Question
In 2016, Carson is claimed as a dependent on his parent's tax return. His parents' ordinary income marginal tax rate is 28 percent. Carson's parents
In 2016, Carson is claimed as a dependent on his parent's tax return. His parents' ordinary income marginal tax rate is 28 percent. Carson's parents provided most of his support. What is Carson's tax liability for the year in each of the following alternative circumstances? Use Tax Rate Schedule for reference.
a. Carson is 17 years old at year-end and earned $10,650 from his summer job and part-time job after school. This was his only source of income.
Tax Liability:
b. Carson is 23 years old at year-end. He is a full-time student and earned $10,650 from his summer internship and part-time job. He also received $4,500 of qualified dividend income.
Tax Liability:
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The Politics Of Public Management The HRDC Audit Of Grants And Contributions
Authors: David A. Good
2nd Edition
0802085873, 978-0802085870
