Taylor age 18 is claimed as a dependent by her
Taylor, age 18, is claimed as a dependent by her parents. For 2014, she has the following income: $4,000 of wages from a summer job, $1,800 of interest from a money market account, and $2,000 of interest from City of Boston bonds.
a. What is Taylor's taxable income for 2014?
b. What is Taylor's tax for 2014? [Her parents file a joint return and have taxable income of $130,000 (no dividends or capital gains).]
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