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In 2017, Simon, age 12, has interest income of $800 and dividend income of $4,000. He has no investment expenses. His parents have taxable income
In 2017, Simon, age 12, has interest income of $800 and dividend income of $4,000. He has no investment expenses. His parents have taxable income of $80,200 and file a joint tax return. Assume that no parental election is made.
Click here to access the 2017 tax rate schedule. If required, round the tax liability the nearest dollar.
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