Question: Problem 3 - 3 3 ( Algorithmic ) ( LO . 3 , 7 ) Taylor, age 1 3 , is claimed as a dependent
Problem AlgorithmicLO
Taylor, age is claimed as a dependent by her parents. For she has the following income: $ wages from a summer job,
$ interest from a money market account, and $ interest from City of Chicago bonds.
If required, round your answers to the nearest dollar. If an amount is zero, enter
Click here to access the tax rate schedule.
a Taylor's standard deduction for is $
Taylor's taxable income for is :
b Compute Taylor's "net unearned income" for the purpose of the kiddie tax.
$
Compute Taylor's tax liability. Her parents file a joint return and have taxable income of $no dividends or capital gains
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