Tim is single and 17 years old. He is a dependent of his parents. Tim earned $1,300 from a part time job and $2,800 of interest from a money market account. Tim's parents, who file a joint tax return, have 2014 taxable income of $135,000. They do not elect to include Tim's income on their tax return. What is Tim's 2014 income tax liability?

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ANS WER 0 C OMPUTATION 1300 2800 4100 4100 4050 50 50 x 10 5 5 5 ... View the full answer