Question
Required information Problem 8-52 (LO 8-1) [The following information applies to the questions displayed below.] In 2019, Carson is claimed as a dependent on his
Required information
Problem 8-52 (LO 8-1)
[The following information applies to the questions displayed below.]
In 2019, Carson is claimed as a dependent on his parents' tax return. 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, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference.
Problem 8-52 Part-b
b. Carson is 23 years old at year-end. He is a full-time student and earned $14,975 from his summer internship and part-time job. He also received $6,080 of qualified dividend income. (Do not round intermediate calculations. Round your final answer to 1 decimal place.)
What is his tax liability? (Please show complete steps, thank you!)
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