In $2022,$ Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable income of

$$550,000($married filing jointly$).$ Sheryl did not provide more than half her own support.

What is Sheryl's tax liability for the year in each of the following alternative circumstances? Use Tax Rate

Schedule, Dividends and Capital Gains Tax Rates for reference.

Note: Leave no answer blank. Enter zero if applicable.

Required:

a$.$ She received $$7,000$ from a part$-$time job. This was her only source of income. She is $16$ years old at year$-$

end.

b$.$ She received $$7,000$ of interest income from corporate bonds she received several years ago. This is her

only source of income. She is $16$ years old at year$-$end.

c$.$ She received $$7,000$ of interest income from corporate bonds she received several years ago. This is her

only source of income. She is $20$ years old at year$-$end and is a full$-$time student

d$.$ She received $$7,000$ of qualified dividend income. This is her only source of income. She is $16$ years old

atTax Rates for Net Capital Gains and Qualified Dividends

Rate$*$ Taxable Income

Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates

$0\%$ $$0-$ $$83,350$ $$0-$ $$41,675$ $$0-$ $$41,675$ $$0-$ $$55,800$ $$0-$ $$2,800$

$15\%$ $$83,351-$ $$517,200$ $$41,676-$ $$258,600$ $$41,676-$ $$459,750$ $$55,801-$ $$488,500$ $$2,801-$ $$13,700$

$20\%$ $$517,201+$ $$258,601+$ $$459,751+$ $$488,501+$ $$13,701+$

$*$This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table $($net capital gains and qualified dividends are included in taxable income last for this purpose$).$

$2022$ Tax Rate Schedules

IndividualsSchedule X$-$Single

If taxable income$$is over: But not over: The tax is:

$ $0$ $$10,27510\%$ of taxable income

$ $10,275$ $ $41,775$ $$1,027\mathrm{.}50$ plus $12\%$ of the excess over $$10,275$

$ $41,775$ $ $89,075$ $$4,807\mathrm{.}50$ plus $22\%$ of the excess over $$41,775$

$ $89,075$ $$170,050$ $$15,213\mathrm{.}50$ plus $24\%$ of the excess over $$89,075$

$$170,050$ $$215,950$ $$34,647\mathrm{.}50$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$539,900$ $$49,335\mathrm{.}50$ plus $35\%$ of the excess over $$215,950$

$$539,900$ $$162,718$ plus $37\%$ of the excess over $$539,900$

Schedule Y$-1-$Married Filing Jointly or Qualifying Widow$($er$)$

If taxable income is over: But not over: The tax is:

$ $0$ $ $20,55010\%$ of taxable income

$ $20,550$ $ $83,550$ $$2,055$ plus $12\%$ of the excess over $$20,550$

$ $83,550$ $$178,150$ $$9,615$ plus $22\%$ of the excess over $$83,550$

$$178,150$ $$340,100$ $$30,427$ plus $24\%$ of the excess over $$178,150$

$$340,100$ $$431,900$ $$69,295$ plus $32\%$ of the excess over $$340,100$

$$431,900$ $$647,850$ $$98,671$ plus $35\%$ of the excess over $$431,900$

$$647,850$ $$174,253\mathrm{.}50$ plus $37\%$ of the excess over $$647,850$

Schedule Z$-$Head of Household

If taxable income$$is over: But not over: The tax is:

$ $0$ $ $14,65010\%$ of taxable income

$ $14,650$ $ $55,900$ $$1,465$ plus $12\%$ of the excess over $$14,650$

$ $55,900$ $ $89,050$ $$6,415$ plus $22\%$ of the excess over $$55,900$

$ $89,050$ $$170,050$ $$13,708$ plus $24\%$ of the excess over $$89,050$

$$170,050$ $$215,950$ $$33,148$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$539,900$ $$47,836$ plus $35\%$ of the excess over $$215,950$

$$539,900$ $$161,218\mathrm{.}50$ plus $37\%$ of the excess over $$539,900$

Schedule Y$-2-$Married Filing Separately

If taxable income is over: But not over: The tax is:

$ $0$ $ $10,27510\%$ of taxable income

$ $10,275$ $ $41,775$ $$1,027\mathrm{.}50$ plus $12\%$ of the excess over $$10,275$

$ $41,775$ $ $89,075$ $$4,807\mathrm{.}50$ plus $22\%$ of the excess over $$41,775$

$ $89,075$ $$170,050$ $$15,213\mathrm{.}50$ plus $24\%$ of the excess over $$89,075$

$$170,050$ $$215,950$ $$34,647\mathrm{.}50$ plus $32\%$ of the excess over $$170,050$

$$215,950$ $$323,925$ $$49,335\mathrm{.}50$ plus $35\%$ of the excess over $$215,950$

$$323,925$ $$87,126\mathrm{.}75$ plus $37\%$ of the excess over $$323,925$ year$-$end.