Taylor, age 13, is a dependent of her parents. In the current year, she has the following income: $4,200 wages from a summer job, $1,495 interest from a money market account, and $1,875 interest from City of Boston bonds.

If an amount is zero, enter "0".

a. Determine the following: Taylor's standard deduction for the year is $.

Taylor's taxable income for the year is $.

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To reduce the tax savings that result from shifting income from parents to children, the net unearned income (commonly called investment income) of certain children is taxed using special rules. This provision, commonly referred to as the kiddie tax, applies to any child who is under age 19 (or under age 24 if a full-time student)

b. Compute Taylor's "net unearned income" for the purpose of the kiddie tax. $

Click here to access the 2019 tax rate schedule.

Compute Taylor's tax liability. $.