Cindy, an 18-year-old full-time student, has $3,400 interest income from a trust established by her grandparents. Cindy
Question:
a. What is Cindy's taxable income and how much income tax does she owe?
b. How would your answers change if Cindy were age 24?
c. How much tax would be saved if she were age 24?
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a 1023 Cindys standard deduction is 6300 Earned inc...View the full answer
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Dr Navin Gopnarayan
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Related Book For 
Taxation For Decision Makers 2017
ISBN: 9781119330417
7th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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