Mike and Linda are a married couple who file jointly. They have three dependent children who are
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Mike and Linda are a married couple who file jointly. They have three dependent children who are full-time students in 2017. Mike and Linda’s taxable income is $180,000 and they provided $8,000 of support for each child. Information for each child is as follows:
Karen | Susan | Amelie | |
Age | 21 | 18 | 16 |
Wages | $3,000 | $11,000 | $5,900 |
Interest | 2,800 | 2,400 | 2,200 |
Compute each child’s tax, assuming the interest income is taxable.
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Karen Karens gross tax is 371 At age 21 Karen is subject to the kiddie tax because she is a fulltime student who earned less than onehalf of her own s...View the full answer
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Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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