Question
Joel and Maria have a son named David who is a 20-year-old student at theUniversity of Southern California. David received $1,300 worth of investment incomein
Joel and Maria have a son named David who is a 20-year-old student at theUniversity of Southern California. David received $1,300 worth of investment incomein 2018 and had earned income $1,700 but that was far less than half of the supporthe received from his parents. Both Joel and Maria are still alive. Based on thisinformation, what can be said about the tax liability in California? a)Both David's parents were alive at the end of the year, so the Kiddie Tax is owed b)The Kiddie Tax is owed because David is a student under the age of 24 c)David had investment income less than $2,100 so there is no tax obligation d)David had earned income and must pay California taxes on his investment and earned income he received
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