Paige, age 17, is a dependent of her parents. Her parents report taxable income of $120,000 on
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Paige, age 17, is a dependent of her parents. Her parents report taxable income of $120,000 on their joint return (no qualified dividends or capital gains). During 2021, Paige earned $3,900 pet sitting and $4,300 in interest on a savings account. What are Paige’s taxable income and tax liability for 2021?
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a Paiges total taxable income is 3950 b Paiges tax liability is ...View the full answer
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Related Book For 
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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