Question

Callie is the 11-year-old daughter and dependent of Mr. and Mrs. Santo. This year, Callie filed a Form 1040 on which the only item of gross income was $10,557 interest from an investment bond portfolio that Callie inherited from a great aunt. Compute Callie’s income tax if her parents’ marginal tax rate is 39.6 percent.


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  • CreatedNovember 03, 2015
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