Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of

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Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. No election is made to include Stan’s income on Brian and Kim’s return. 

a. For purposes of the tax on a child’s unearned income, calculate Stan’s taxable income. $____________ 

b. Calculate Stan’s net unearned income. $____________ 

c. Calculate Stan’s earned taxable income. $____________ 

d. Calculate Stan’s tax for 2018. $__________

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Related Book For  answer-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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