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The following information for 2020 relates to Will, a single taxpayer, age 18: wages - 9,500; taxable interest income - 10,600; itemized deductions - 1,500.
The following information for 2020 relates to Will, a single taxpayer, age 18: wages - 9,500; taxable interest income - 10,600; itemized deductions - 1,500. Compute Will's tax liability for 2020 assuming he is self-supporting. Compute Will's tax liability for 2020 assuming he is dependent of his parents and they support him entirely (his earned income is NOT more than 50% of his support). His parents marginal tax rate is 22%
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