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Tom, age 13, is claimed as a dependent by his parents whose tax rate is 35%. Tom has unearned income of $3,400 and $300 of
Tom, age 13, is claimed as a dependent by his parents whose tax rate is 35%. Tom has unearned income of $3,400 and $300 of income from mowing lawns in the neighborhood. If the rate on Tom's portion of income is 10%, what is Tom's 2020 income tax liability? Oa. $1,295 Ob. $260 Oc. $560 Od. $370 Oe. e. None of these choices are correct
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