Lenny, age 12, has $5,500 interest income from a trust established by his uncle. This is Lennys

Question:

Lenny, age 12, has $5,500 interest income from a trust established by his uncle. This is Lenny’s only source of income for 2018.
a. What is Lenny’s taxable income and how much income tax does he owe?
b. How would your answers change if Lenny were age 24?

Fantastic news! We've Found the answer you've been seeking!