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The following information applies to the questions displayed below.] In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not
The following information applies to the questions displayed below.] In 2019, Sheryl is claimed as a dependent on her parents' tax return. Sheryl did not provide more than half her own support. What Is Sheryl'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. (Leave no answer blank. Enter zero If applicable.) a. She received $5,600 from a part-time job. This was her only source of income. She is 16 years old at year-end. Tax liability b. She received $5,600 of Interest Income from corporate bonds she received several years ago. This is her only source of income. She is 16 years old at year-end. Tax liability c. She received $5,600 of Interest Income from corporate bonds she received several years ago. This is her only source of income. She is 20 years old at year-end and is a full- time student Tax liability d. She received $5,600 of qualified dividend Income. This is her only source of income. She is 16 years old at year-end. (Round your final answer to 2 decimal places.) Tax liability 2019 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 5970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46.628.50 plus 35% of the excess over $204,100 $510,300 $153,798,50 plus 37% of the excess over $510,300 Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0% $0 - $78,750 $0 - $39,375 $0 - $39.375 $0 - $52,750 $0 - $2,650 15% $78,751 - $488.850 $39,376 - $244.425 $39,376 - $434,550 | $52.751 - $461,700 $2,651 - $12.950 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 and qualified dividends are included in taxable income last for this purpose). Estates and Trusts The tax is: If taxable income is over: $ 0 $ 2,600 $ 9,300 $12,750 But not over: $ 2,600 S 9,300 $12.750 10% of taxable income $260 plus 24% of the excess over $2.600 $1,868 plus 35% of the excess over $9,300 $3,075.50 plus 37% of the excess over $12.750
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