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Schedules The tax is: Schedule X-If your filing status is Single If your taxable income is: But not Over- over- $0 $9,875 9,875 40,125 40,125
Schedules The tax is: Schedule X-If your filing status is Single If your taxable income is: But not Over- over- $0 $9,875 9,875 40,125 40,125 85,525 85,525 163,300 163,300 207,350 207,350 518,400 518,400 10% $987.50 + 12% 4,617.50 + 22% 14,605.50 + 24% 33,271.50 + 32% 47,367.50 + 35% 156,235.00 + 37% of the amount over- $0 9,875 40,125 85,525 163,300 207,350 518,400 over- Schedule Y-1-If your filing status is Married filing jointly or Qualifying widow(er) If your taxable The tax is: income is: of the But not amount Over- over- $0 $19,750 10% $0 19,750 80,250 $1,975.00 + 12% 19,750 80,250 171,050 9,235.00 + 22% 80,250 171,050 326,600 29,211.00 + 24% 171,050 326,600 414,700 66,543.00 + 32% 326,600 414,700 622,050 94,735.00 + 35% 414,700 622,050 167,307.50 + 37% 622,050 Unearned Income of Minor Children and Certain Students (LO 6.4) Brian and Kim have a 12-year-old child, Stan. For 2020, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. Click here to access the income tax rate schedules. If there was no kiddie tax and Stan is taxed at his own rate, what would the tax on his income be? $ 386 X
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