Ramon and Trish are married, filo jointly, and have $570,000 of taxable incoene. They transfer ownership of corpocate bonds to Paula, their single daughter. There is $13,000 of interest an the corporate bonds in the current year. (Assume the current tax year is 2021.) (Click the icon to visw the stancard deduction amounts.) (Cick the icon to view the tax rase schedule for the Single filly status.) (Click the icon to virw the tax rate schedule for the Married filing jointly filing status.) Read the poculements. is age 12 and a dependent of her parents. Her only gross income is the $13.000 of interest Begin by compusing the amoum that Ramon and Trah would pay in tax if they owned the bonds. Famon and Tristre tix it reporting the interest insons would be Now comoute the tax that Paula owes on the interest income. Pacia's totat income taxif reporting the interest income is Finally, delermine the amourh of tax the family saves in the current year because Pawla owns the bonds father than Ramon and Trish. The ariourt of tax the favily saves because Paula cwis the bonds rather than Ramon and Trah is Requirement b. Dntemina the amount of tax the fanlily saves in the cuirent year becsuse Paula owns the bonds rathor than Ramon and Trieh. Assume Paria clains the standard doduction. Paila is age 25 and not a dependert of her parents. Her gross income is comprised of the $13,000 of hierest and $33,000 of wages. (Do not found intermediary calculations. Only round the amount yoe Requirement b. Determine the amount of tax the family saves in the current year becauso Paula owns the bonds rather than Ramon and Trish. Assume Puula daims the standard deduction. Pecia is age 25 and not a dependent of her parents. Her gross income is comprised of the $13,000 of intorest and $33,000 of wages. (Do not round intermeciary cililations Onty round the amourt you Insut in the cell to the nearest dohar, If Paula were age 25, her tax would be computed using the tax rate schedule for Paula would use this tax rate schedule because the hiddie tax Ramon and Trish are married, file jointly, and have $570,000 of taxable income. They transfer ownership of corporate bonds to Paula, their single daughter. There is $13,000 of interest on the corporate bonds in the current year. (Assume the current tax year is 2021.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the tax rate schedule for the Single filing status.) (Click the icon to view the tax rate schedule for the Married filling jointly filing status.) Read the requirements. Requirement a. Determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. Assume Paula claims the standard deduction. Paula is age 12 and a dependent of her parents. Her only gross income is the $13,000 of interest. Begin by computing the amount that Ramon and Trish would pay in tax if they owned the bonds. Ramon and Trish's tax if reporting the interest income would be Now compute the tax that Paula owes on the interest income. Paula's total income tax if reporting the interest income is Finally, determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. The amount of tax the family saves because Paula owns the bonds rather than Ramon and Trish is Requirement b. Determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. Assume Paula claims the standard deduction. Paula is age 25 and not a dependent of her parents. Her gross income is comprised of the $13,000 of interest and $33,000 of wages. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) If Paula were age 25, her tax would be computed using the tax rate schedule for Paula would use this tax rate schedule because the kiddie tax If Paula owned the bonds, her income tax would increase by The amount of tax the family saves because Paula owns the bonds rather than Ramon and Trish is STANDARD DEDUCTION "These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. Reference Reference Ramon and Trish are married, filo jointly, and have $570,000 of taxable incoene. They transfer ownership of corpocate bonds to Paula, their single daughter. There is $13,000 of interest an the corporate bonds in the current year. (Assume the current tax year is 2021.) (Click the icon to visw the stancard deduction amounts.) (Cick the icon to view the tax rase schedule for the Single filly status.) (Click the icon to virw the tax rate schedule for the Married filing jointly filing status.) Read the poculements. is age 12 and a dependent of her parents. Her only gross income is the $13.000 of interest Begin by compusing the amoum that Ramon and Trah would pay in tax if they owned the bonds. Famon and Tristre tix it reporting the interest insons would be Now comoute the tax that Paula owes on the interest income. Pacia's totat income taxif reporting the interest income is Finally, delermine the amourh of tax the family saves in the current year because Pawla owns the bonds father than Ramon and Trish. The ariourt of tax the favily saves because Paula cwis the bonds rather than Ramon and Trah is Requirement b. Dntemina the amount of tax the fanlily saves in the cuirent year becsuse Paula owns the bonds rathor than Ramon and Trieh. Assume Paria clains the standard doduction. Paila is age 25 and not a dependert of her parents. Her gross income is comprised of the $13,000 of hierest and $33,000 of wages. (Do not found intermediary calculations. Only round the amount yoe Requirement b. Determine the amount of tax the family saves in the current year becauso Paula owns the bonds rather than Ramon and Trish. Assume Puula daims the standard deduction. Pecia is age 25 and not a dependent of her parents. Her gross income is comprised of the $13,000 of intorest and $33,000 of wages. (Do not round intermeciary cililations Onty round the amourt you Insut in the cell to the nearest dohar, If Paula were age 25, her tax would be computed using the tax rate schedule for Paula would use this tax rate schedule because the hiddie tax Ramon and Trish are married, file jointly, and have $570,000 of taxable income. They transfer ownership of corporate bonds to Paula, their single daughter. There is $13,000 of interest on the corporate bonds in the current year. (Assume the current tax year is 2021.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the tax rate schedule for the Single filing status.) (Click the icon to view the tax rate schedule for the Married filling jointly filing status.) Read the requirements. Requirement a. Determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. Assume Paula claims the standard deduction. Paula is age 12 and a dependent of her parents. Her only gross income is the $13,000 of interest. Begin by computing the amount that Ramon and Trish would pay in tax if they owned the bonds. Ramon and Trish's tax if reporting the interest income would be Now compute the tax that Paula owes on the interest income. Paula's total income tax if reporting the interest income is Finally, determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. The amount of tax the family saves because Paula owns the bonds rather than Ramon and Trish is Requirement b. Determine the amount of tax the family saves in the current year because Paula owns the bonds rather than Ramon and Trish. Assume Paula claims the standard deduction. Paula is age 25 and not a dependent of her parents. Her gross income is comprised of the $13,000 of interest and $33,000 of wages. (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) If Paula were age 25, her tax would be computed using the tax rate schedule for Paula would use this tax rate schedule because the kiddie tax If Paula owned the bonds, her income tax would increase by The amount of tax the family saves because Paula owns the bonds rather than Ramon and Trish is STANDARD DEDUCTION "These amounts are $2,700 and $3,400, respectively, for a taxpayer who is both aged and blind. Reference Reference