Question
In 2018, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. What is
In 2018, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support.
What is Sheryl's tax liability for the year in each of the following alternative circumstances?Use Tax Rate Schedule,Dividends and Capital Gains Tax Rates,Estates and Trustsfor reference.(Leave no answer blank. Enter zero if applicable.)
a.She received $7,000 from a part-time job. This was her only source of income. She is 16 years old at year-end.
b.She received $7,000 of interest income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end.
c.She received $7,000 of interest income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full-time student.
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