Question Details
In 2014, Carson is claimed as a dependent on his parent's tax
return. His parents' ordinary income marginal tax rate is 28
percent. Carson's parents provided most of his support. Use Tax
Rate Schedule for reference.
|
What is Carson's tax liability for the year in each of the
following alternative circumstances?
|
a. |
Carson is 17 years old at year-end and earned $10,800 from his
summer job and part-time job after school. This was his only source
of income.
|
Tax liability
b. |
Carson is 23 years old at year-end. He is a full-time student
and earned $10,800 from his summer internship and part-time job. He
also received $3,900 of qualified dividend income.
|
tax liability
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DATE ANSWEREDDec 08, 2020
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