Problem $3-37($Algorithmic$))$

Taylor, age $16,$ is claimed as a dependent by her parents. For $2023,$ she has the following income: $$3,600$ wages from a summer job,

$$1,625$ interest from a money market account, and $$2,100$ interest from City of Chicago bonds.

If required, round your answers to the nearest dollar. If required, round your answers to the nearest dollar. If an amount is

zero, enter $"0".$

Click here to access the $2023$ tax rate schedule.

a$.$ Taylor's standard deduction for $2023$ is $

Taylor's taxable income for $2023$ is sube

$x.$

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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 $$135,000($no dividends or capital gains$).]$Problem $3-37($Algorithmic$))$

Taylor, age $16,$ is claimed as a dependent by her parents. For $2023,$ she has the following income: $$3,600$ wages from a summer job,

$$1,625$ interest from a money market account, and $$2,100$ interest from City of Chicago bonds.

If required, round your answers to the nearest dollar. If required, round your answers to the nearest dollar. If an amount is

zero, enter $"0".$

Click here to access the $2023$ tax rate schedule.

a$.$ Taylor's standard deduction for $2023$ is $

Taylor's taxable income for $2023$ is sube

$x.$

Feedback

Check My Work

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 $$135,000($no dividends or capital gains$).]$Problem $3-37($Algorithmic$))$

Taylor, age $16,$ is claimed as a dependent by her parents. For $2023,$ she has the following income: $$3,600$ wages from a summer job,

$$1,625$ interest from a money market account, and $$2,100$ interest from City of Chicago bonds.

If required, round your answers to the nearest dollar. If required, round your answers to the nearest dollar. If an amount is

zero, enter $"0".$

Click here to access the $2023$ tax rate schedule.

a$.$ Taylor's standard deduction for $2023$ is $

Taylor's taxable income for $2023$ is sube

$x.$

Feedback

Check My Work

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 $$135,000($no dividends or capital gains$).]$