Tax Drill - Computation of Kiddie Tax In 2021, Simon, age 12, has interest income of $900 and dividend income of $4,000. He has no investment expenses. Determine Simon's net unearned income and total tax liability. Click here to access the 2021 tax rate schedule. If required, round the tax liability the nearest dollar. Net unearned income is 2,700 Simon's total tax is 270 X. of the amount over- $ 0 14,200 54,200 86,350 164,900 2021 Tax Rate Schedules Single-Schedule X Head of householdSchedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 9,950 ......... 10% $ 0 $ 0 $ 14,200 10% 9,950 40,525 $ 995.00 + 12% 9,950 14,200 54,200 $ 1,420.00 + 12% 40,525 86,375 4,664.00 + 22% 40,525 54,200 86,350 6,220.00 + 22% 86,375 164,925 14,751.00 + 24% 86,375 86,350 164,900 13,293.00 + 24% 164,925 209,425 33,603.00 + 32% 164,925 164,900 209,400 32,145.00 + 32% 209,425 523,600 47,843.00 + 35% 209,425 209,400 523,600 46,385.00 + 35% 523,600 157,804.25 + 37% 523,600 523,600 156,355.00 + 37% Married filing jointly or Qualifying widow(er)- Married filing separately-Schedule Y-2 Schedule Y-1 If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 19,900 $ 0 $ 0 $ 9,950 19,900 81,050 $ 1,990.00 + 12% 19,900 9,950 40,525 $ 995.00 + 12% 81,050 172,750 9,328.00 + 22% 81,050 40,525 86,375 4,664.00 + 22% 172,750 329,850 29,502.00 + 24% 172,750 86,375 164,925 14,751.00 + 24% 329,850 418,850 67,206.00 + 32% 329,850 164,925 209,425 33,603.00 + 32% 418,850 628,300 95,686.00 + 35% 418,850 209,425 314,150 47,843.00 + 35% 628,300 168,993.50 + 37% 628,300 314,150 84,496.75 + 37% 209,400 523,600 of the amount over ........ 10% ...... 10% $ 0 9,950 40,525 86,375 164,925 209,425 314,150