In 2020, Simon, age 12, has interest income of $7,500 on funds he inherited from his grandmother, and no earned income. He has no investment expenses. His parents have a taxable income of $82,250 and file a joint return. Assume that no parental election is made. If required, round the tax computations to the nearest dollar.

Simon's net unearned income is $ ?

Simon's allocable parental tax is $ ?

Simon's total tax is $ ?

2020 Tax Rate Schedules SingleSchedule X If taxable income is: But not Over- over- of the amount over- Head of householdSchedule Z If taxable income is: But not Over- over- The tax is: of the amount over- The tax is: $ 0 $ 14,100 ......... 10% $ 0 14,100 53,700 $ 1,410.00 + 12% 14,100 53,700 85,500 6,162.00 + 22% 53,700 85,500 163,300 13,158.00 + 24% 85,500 163,300 207,350 31,830.00 + 32% 163,300 518,400 45,926.00 + 35% 207,350 207,350 518,400 154,793.50 + 37% 518,400 Married filing separatelySchedule Y-2 $ 0 $ 9,875 ......... 10% $ 0 9,875 40,125 $ 987.50 + 12% 9,875 40,125 85,525 4,617.50 + 22% 40,125 85,525 163,300 14,605.50 + 24% 85,525 163,300 207,350 33,271.50 + 32% 163,300 207,350 518,400 47,367.50 + 35% 207,350 518,400 156,235.00 + 37% 518,400 Married filing jointly or Qualifying widow(er) Schedule Y-1 If taxable of the income is: But not amount Over- over- The tax is: over- $ 0 $ 19,750 $ 0 19,750 80,250 $ 1,975.00 + 12% 19,750 80,250 171,050 9,235.00 + 22% 80,250 171,050 326,600 29,211.00 + 24% 171,050 326,600 414,700 66,543.00 + 32% 326,600 414,700 622,050 94,735.00 + 35% 414,700 622,050 167,307.50 + 37% 622,050 If taxable income is: Over- $ 0 But not over- of the amount over- The tax is: .. 10% ......... 10% $ 9,875 $ 0 $ 9,875 9,875 40,125 40,125 85,525 987.50 + 12% 4,617.50 + 22% 40,125 85,525 163,300 14,605.50 + 24% 163,300 207,350 311,025 207,350 311,025 33,271.50 + 32% 47,367.50 + 35% 83,653.75 + 37% 85,525 163,300 207,350 311,025