Question
In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. What is
In 2019, 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.
b. She received $5,600 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.
Tax Liability = ?
c. She received $5,600 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.
Tax Liability = ?
d. She received $5,600 of qualified dividend income.This is her only source of income. She is 16 years old at year-end.(Round your final answer to 2 decimal places.)
Tax Liability = ?
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