These problems deal with Kiddie Tax. Standard Deduction, Taxable Earned Income and Unearned Income. Tax Year...

 

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These problems deal with Kiddie Tax. Standard Deduction, Taxable Earned Income and Unearned Income. Tax Year 2018 Solve with the parameters below: 1) Sam's taxable Income 2) Kiddie Tax for Sam and or parents, 3) Standard deduction for Sam, 4) Tax due amount for Sam and or Parents CHILD UNDER 19 or FULL TIME STUDENT <24, 25% PERCENT BRACKET FOR PARENTS 1. CHILD SAM INTEREST INCOME $1,200 PARENTS INCOME $90,000 2 CHILD SAM INTEREST INCOME $4,700 PARENTS INCOME (JOINT) $90,000 3 CHILD SAM W-2 WAGES $1,500 INTEREST INCOME $3,000 PARENTS MAKE $90,000 4. CHILD SAM W-2 WAGES $6,000 INTEREST INCOME $3,600 PARENTS MAKE $ 90,000 These problems deal with Kiddie Tax. Standard Deduction, Taxable Earned Income and Unearned Income. Tax Year 2018 Solve with the parameters below: 1) Sam's taxable Income 2) Kiddie Tax for Sam and or parents, 3) Standard deduction for Sam, 4) Tax due amount for Sam and or Parents CHILD UNDER 19 or FULL TIME STUDENT <24, 25% PERCENT BRACKET FOR PARENTS 1. CHILD SAM INTEREST INCOME $1,200 PARENTS INCOME $90,000 2 CHILD SAM INTEREST INCOME $4,700 PARENTS INCOME (JOINT) $90,000 3 CHILD SAM W-2 WAGES $1,500 INTEREST INCOME $3,000 PARENTS MAKE $90,000 4. CHILD SAM W-2 WAGES $6,000 INTEREST INCOME $3,600 PARENTS MAKE $ 90,000

Answer rating: 100% (QA)

Page No Answer 1 Unearned income of child of more than 2100 i taxable Un... View the full answer