Brian and Kim have a 12-year-old child, Stan. For 2021, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. Click here to access the income tax rate schedules. If there was no kiddie tax and Stan is taxed at his own rate, what would the tax on his income be?
Brian and Kim have a 12-year-old child, Stan. For 2021, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. Click here to access the income tax rate schedules. If there was no kiddie tax and Stan is taxed at his own rate, what would the tax on his income be?
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...
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Transcribed Image Text:Unearned Income of Minor Children and Certain Students (LO 6.4)
Brian and Kim have a 12-year-old child, Stan. For 2021, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500.
Click here to access the income tax rate schedules.
If there was no kiddie tax and Stan is taxed at his own rate, what would the tax on his income be?
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