TAX ACCOUNTING

[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 Trustsfor reference.

b.Carson is 23 years old at year-end. He is a full-time student and earned $14,900 from his summer internship and part-time job. He also received $6,120 of qualified dividend income.(Do not round intermediate calculations. Round your final answerto 1 decimal place.)

Individuals Iftaxable income is over: 3 0 $ 9,700 $ 39,475 $ 84,200 $160,725 $204,100 $510,300 Schedule XSingle But not over: $ 9,700 $ 39,475 $ 84,200 $160,725 $204,100 $510,300 10% of taxable income $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over $204,100 $153,798.50 plus 37% of the excess over $510,300 Schedule ZHead of Household If taxable income is (WEI : $ 13,850 $ 52,850 $ 84,200 $ 160,700 $204,100 $510,300 But not over: $ 13,850 $ 52,850 $ 84,200 $160,700 $204,100 $510,300 The tax is: 10% of taxable income $1,385 plus 12% Ofthe excess over $13,850 $6,065 plus 22% of the excess over $52,850 $12,962 plus 24% 0fthe excess over $84,200 $31,322 plus 32% of the excess over $160,700 $45,210 plus 35% of the excess over $204,100 $152,380 plus 37% of the excess over $510,300 Schedule Yl-Nlarried Filing Jointly or Qualifying Widow-(er) If taxable income is But not over: over: 99 $ 19,400 $ 78,950 $ 78,950 $168,400 $168,400 $321,450 $321,450 $408,200 $408,200 $612,350 $1,940 plus 12% of the excess over $19,400 $9,086 plus 22% of the excess over $78,950 $28,765 plus 24% of the excess over $168,400 $65,497 plus 32% of the excess over $321,450 $93,257 plus 35% of the excess over $408,200 $164,709.50 plus 37% of the excess over $612,350 Schedule Y-Z-Married Filing Separately If taxable income is But not over: over: $ 9,700 $ 39,475 $ 39,475 $ 84,200 $ 84,200 $160,725 $160,725 $204,100 $204,100 $306,175 The tax is: 0 $ 19,400 10% of taxable income u- 10% of taxable income 9,700 $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over $204,100 $82,354.75 plus 37% 0f the excess over $306,175 Estates and Trusts If taxable income is over: But not over: The tax is: $ 0 $ 2,600 10% of taxable income $ 2,600 $ 9,300 $260 plus 24% of the excess over $2,600 $ 9,300 $ 12, 750 $1,868 plus 35% of the excess over $9,300 $12, 750 $3,075.50 plus 37% of the excess over $12, 750 Tax Rates for Net Capital Gains and Qualified Dividends Rate* Taxable Income Married Filing Married Filing Jointly Separately Single Head of Household Trusts and Est $0 - $78,750 $0 - $39,375 $0 - $39,375 $0 - $52,750 $0 - $2,65 15% $78,751 - $488,850 $39,376 - $244,425 $39,376 - $434,550 $52,751 - $461,700 $2,651 - $12, 20% $488,851+ $244,426+ $434,551+ $461, 701+ $12,951+ *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains qualified dividends are included in taxable income last for this purpose). Basic Standard Deduction Amounts* Filing Status 2018 Amount 2019 Amount Married Filing Jointly $24,000 $24,400 Qualifying Widow or Widower $24,000 $24,400 Married Filing Separately $ 12.000 $ 12,200 Head of Household $18,000 $18,350 Single $12,000 $12,200Amount of Each Additional Standard Deduction for Taxpayers Who Are Age 65 or Blind 2018 Amount 2019 Amount Married taxpayers $1,300 Single taxpayer or head of household $1,600 Exemption Amount *Used for qualifying relative gross income test. Corporations Taxable Income