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In 2022, Jack, age 12, has interest income of $4,900 on funds he inherited from his aunt and no earned income. He has no investment

In 2022, Jack, age 12, has interest income of $4,900 on funds he inherited from his aunt and no earned income. He has no investment expenses. Christian and Danielle (his parents) have taxable income of $82,250 and file a joint return. Assume that no parental election is made.

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