Brian and Kim have a 12-year-old child, Stan. For 2019, Brain and Kim have taxable income of $52,000, and Stan has interest income of $4,500. No election is made to include Stan's income on Brian and Kim's return. a. For purpose of the tax on a child's unearned income, calculate Stan's taxable income. b. Calculate Stan's net unearned income. c. Calculate Stan's earned taxable income. d. Calculate Stan's tax for 2019. Second time question submitted, it was incorrect because it was done for 2018 instead of 2019.

Brian and Kim have a 12-year-old child, Stan. For 2019, Brain and Kim have taxable income of $52,000, and Stan has interest income of $4,500. No election is made to include Stan's income on Brian and Kim's return. a. For purpose of the tax on a child's unearned income, calculate Stan's taxable income. b. Calculate Stan's net unearned income. c. Calculate Stan's earned taxable income. d. Calculate Stan's tax for 2019. Second time question submitted, it was incorrect because it was done for 2018 instead of 2019.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter1: The Individual Income Tax Return

Section: Chapter Questions

Problem 8P

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