1. Jamie is single. In 2021, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gross tax liability? (Round your answer to the nearest whole dollar amount.) (Use the tax rate schedules, long-term capital gains tax brackets.)

1. $19,419
2. $16,200
3. $20,143
4. $18,669

2. The Olympians have three children. The kiddie tax applies to unearned income received by which of the following children?

a. Poseidon is a 20-year-old full-time student who does not support himself.

b. Demeter is a 23-year-old full-time student who supports herself with a job at a grocery store.

c. Zeus is 20 years old and not a student.

d. Demeter is a 23-year-old full-time student who supports herself with a job at a grocery store and Zeus is 20 years old and not a student.

e. None of the choices are correct.

3. During 2021, Jasmine (age 12) received $6,600 from a corporate bond. She also received $620 from a savings account established for her by her parents. Jasmine lives with her parents and she is claimed as a dependent in their tax return. Assuming her parents' marginal tax rate is 24%, what is Jasmine's gross tax liability? (Use Tax Rate Schedule, Standard deduction.)

1. $0
2. $1,315
3. $841
4. $110

4. Which of the following is not a taxpayer filing status for purposes of determining the appropriate tax rate schedule?

1. Head of household
2. Qualifying widow or widower
3. Married filing separately
4. Single
5. All of these are taxpayer filing statuses

5. Hester (age 17) is claimed as a dependent by his parents, Charlton and Abigail. In 2021, Hester received $10,030 of qualified dividends, and he received $13,030 from a part-time job. What is his taxable income for 2021? (Use Standard deduction.)

1. $10,510
2. $21,960
3. $23,060
4. $9,680

6. Which of the following items is not added back to regular taxable income in computing alternative minimum taxable income?

1. State income taxes
2. Real property taxes
3. Home mortgage interest expense
4. Tax-exempt interest from a private activity bond issued in 2007

7. Persephone has a regular tax liability of $14,175 and a tentative minimum tax of $11,670. Given just this information, what is her alternative minimum tax liability for the year?

1. $14,175
2. $2,505
3. $11,670
4. $0

8. Which of the following is not an additional tax a taxpayer may have to pay?

1. Excess wage tax
2. Alternative minimum tax
3. Self-employment tax
4. Net investment income tax