Question: Can't find out Simon's total tax. Le Now Ordinate Chapter 3 Homework eBook Calculator Exercise 3-21 (LO. 7) Simon, age 12, generates $4,900 interest income
Le Now Ordinate Chapter 3 Homework eBook Calculator Exercise 3-21 (LO. 7) Simon, age 12, generates $4,900 interest income and no eamed Income for 2019. He Incurs no investment expenses Click here to access the 2019 tax rate schedule and 2019 Estate and Trust Tax Rate Schedule. If required, round the tas liability to the nearest dollar. Net unearned Income is $ 2,700 Simon's total tax is 284 x Check My Work To reduce the tax savings that result from shifting income from parents to children, the net uneared income (commonly called investment income) of certain children is taxed using special rules. This provision, commonly referred to as the kiddie tax, applies to any child who is under age 19 (or under age 24 if a full-time student). Previous Check My Work Save and Submit Assign Sub ssignment Score: 96.43%
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