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Please answer B and C B answer is not 255 and 292 Tax on Unearned Income of a Minor Child (LO. 5) Determine the taxable
Please answer B and C
B answer is not 255 and 292
Tax on Unearned Income of a Minor Child (LO. 5) Determine the taxable income of each of the following dependents for 2020. If an amount is zero, enter "0". a. Louis is 12 and receives $1,160 in interest income. 60 b. 0 X Jackson is 16. He earns $2,070 from his newspaper route and receives $585 in dividends on GCM stock. C. 0 Loretta is 18 and a full time student. She earns $5,160 as a lifeguard during the summer. In addition, Loretta wins a rescue contest and receives a municipal bond worth $655. During the year, the bond pays $30 in interest. d. 1,110 Eva is 15. Her income consists of municipal bond interest of $785, qualified dividend income of $1,365, and interest credited to her savings account of $845. e. 0 Elaine is a college student. Her only income consists of $3,055 from her part-time job delivering pizzas. Her itemized deductions total $200. f. Greg is 2. He has certificates of deposit given to him by his grandparents that pay $2,495 in interest. 1,395Step by Step Solution
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