Computation of Kiddie tax | |
Interest Income | $4,800 |
Less: Threshold limit | $2,100 |
Net unearned Income | $2,700 |
Tax on first $2550 @ 10% | $255 |
Tax on remaining 150 @ 24% | $36 |
Total tax | $291 |
Exercise 3-24 (LO. 7) In 2018, Simon, age 12, has interest income of $4,800 and no...
Exercise 3-21 (LO. 7) Simon, age 12, generates $4,900 interest income and no earned income for 2019. He incurs no investment expenses. Click here to access the 2019 tax rate schedule and 2019 Estate and Trust Tax Rate Schedule. If required, round the tax liability to the nearest dollar. Net unearned income is $ 2,700 Simon's total tax is Feedback Check My Work To reduce the tax savings that result from shifting income from parents to children, the net unearned...
Exercise 3-24 (LO. 7) In 2018, Simon, age 12, has interest income of $4,800 and no earned income. He has no investment expenses. Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. Net unearned income is $2,700 Simon's total tax is $ ? I just need help finding Simon's total tax. $270, $375, $150 and $483 were wrong. So those aren't even an...
In 2018, Simon, age 12, has interest income of $800 and dividend income of $4,000. He has no investment expenses. Determine Simon's net unearned income and total tax liability. Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. Net unearned income is Simon's total tax is 2,700 V. 270 X
Computation of Kiddie Tax In 2019, Simon, age 12, has interest income of $900 and dividend income of $4,000. He has no investment expenses. Determine Simon's net unearned income and total tax liability. Click here to access the 2019 tax rate schedule and 2019 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. Net unearned income is $ 2,700 v. Simon's total tax is 284 x
Exercise 3-21 (Algorithmic) (LO. 7) Simon, age 12, generates $6,320 interest income and no earned income for 2018. He incurs no investment expenses. Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. a. Simon's net unearned income. $ b. Simon's total Federal income tax liability. $
WTF?! Exercise 3-21 (Algorithmic) (LO. 7) Simon, age 12, generates $4,880 interest income and no earned income for 2018. He incurs no investment expenses Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. a. Simon's net unearned income. 2,780 b. Simon's total Federal income tax liability.
Problem 9-21 (Algorithmic) (LO. 2, 3) Taylor, age 16, is a dependent of her parents. For 2018, she has the following income: $5,000 of wages from a summer job, $1,820 of interest from a money market account, and $1,875 of interest from City of Boston bonds. If required, round your answers to the nearest dollar. If an amount is zero, enter "0". a. Taylor's standard deduction for 2018 is $. Taylor's taxable income for 2018 is $. Feedback To reduce...
Simon, age 12, generates $8,240 interest income and no earned income for 2018. He incurs no investment expenses. Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar. a. Simon's net unearned income. $ b. Simon's total Federal income tax liability. $ This is quite a frustrating problem, help if possible thanks Chris
In 2018, Simon, age 12, has interest income of $4,800 and no earned income. He has no investment expenses. Determine Simon’s net unearned income and total tax liability.
In 2018, Simon, age 12, has interest income of $8,960 and no earned income. He has no investment expenses. Net unearned income is: Simon's total tax is: