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Please use 2020 numbers! Thankyou Required information [The following information applies to the questions displayed below.] In 2020, Carson is claimed as a dependent on
Please use 2020 numbers! Thankyou
Required information [The following information applies to the questions displayed below.] In 2020, Carson is claimed as a dependent on his parents' tax return. His parents report taxable income of $200,000 (married filing jointly). Carson's parents provided most of his support. What is Carson's tax liability for the year in each of the following alternative circumstances? Use Tax Rate Schedule, Tax Rates for Net Capital Gains and Qualified Dividends for reference. b. Carson is 23 years old at year-end. He is a full-time student and earned $14,000 from his summer internship and part-time job. He also received $5,000 of qualified dividend income. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Tax liabilityStep by Step Solution
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