Question: In 2 0 2 4 , Jack, age 1 2 , has interest income of $ 6 , 3 0 0 on funds he inherited

In 2024, Jack, age 12, has interest income of $6,300 on funds he inherited from his aunt and no earned income. He has no investment expenses. Christian and Danielle (his parents) have taxable income of $94,150 and file a joint return. Assume that no parental election is made.

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