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Needing some help with these. Pretty self explanatory I just don't know where to start to get the correct amounts. Any help is appreciated. Question
Needing some help with these. Pretty self explanatory I just don't know where to start to get the correct amounts. Any help is appreciated.
Question 1: Kiddie Tax Alfred, age 10, is a dependent of his parents. He had taxable interest income of $8,000. His Parents' tax rate is 33%. What is Alfred's Taxable Income? What is the total tax on Alfred's taxable income? Beatrice, age 12, is a dependent of her parents. She earned Wages of $1,500 and had taxable interest of 6,500. Her Parent's tax rate is 33%. What is Beatrice's Taxable Income? What is the total tax on Beatrice's taxable income? Chester, age 21, is a dependent of his parents. He is a full-time student at Major University. He earned Wages of $2,500 and taxable interest of $5,500. His Parents' tax rate is 33%. What is Chester's Taxable Income? What is the total tax on Chester's taxable income? Della, age 17, is a dependent of her parents. She earned Wages of $3,500 and taxable interest of $4,500. Her Parents' tax rate is 33%. What is Della's Taxable Income? What is the total tax on Della's taxable income? Edgar, age 20, is a full-time student at Wossamotta U and is a dependent of his parents. He earned Wages of $4,500 and taxable interest of $3,500. His Parents' tax rate is 33%. What is Edgar's Taxable Income? What is the total tax on Edgar's taxable income? Frances, age 13, is a dependent of her parents. She had wages of $5,500, and interest income of $2,500 Her Parents' tax rate is 33%. What is Frances's Taxable Income? What is the total tax on Frances's taxable income? George, age 15, is a dependent of his parents. He earned Wages of $6,500 and taxable interest of $1,500. His Parents' tax rate is 33%. What is George's Taxable Income? What is the total tax on George's taxable income? Helen, age 13, is a dependent of her parents. She had wages of $7,500, and interest income of $500 Her Parents' tax rate is 33%. What is Helen's Taxable Income? What is the total tax on Helen's taxable income? Isaac, age 14, is a dependent of his parents. He had wages of $8,000. His Parents' tax rate is 33%. What is Isaac's Taxable Income? What is the total tax on Isaac's taxable incomeStep by Step Solution
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