Sylvia, age 17 and blind, is claimed by her parents as a dependent. During 2021, she had

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Sylvia, age 17 and blind, is claimed by her parents as a dependent. During 2021, she had interest income from a bank savings account of $2000, interest income from a municipal bond of $4,000, wage income from a part-time job of $4200, and taxable scholarship (room and board) of $5000. Sylvia's parents file a joint return and have a taxable income of $375,000.

1. Compute the total tax on Sylvia's income.

2. How, if at all would your answer change if the $4,000 interest was earned on an IBM bond?

Posted Date: Nov 21, 2021 02:31 PM

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Sylvia, age 17 and blind, is claimed by her parents as a dependent. During 2021, she had

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1 The total tax on Sylvias income would be 1170 2 The answer would not c... View the full answer

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