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Problem 3-46 (LO. 1, 3, 7) Paige, age 17, is a dependent of her parents. During...

Problem 3-46 (LO. 1, 3, 7)

Paige, age 17, is a dependent of her parents. During 2018, Paige earned $3,900 pet sitting and $4,100 in interest on a savings account.

Click here to access the 2018 tax rate schedule

What are Paige's taxable income and tax liability for 2018?

a. Paige's total taxable income is $3,750

b. Paige's tax liability is $ ?

I just need help with finding Paige's tax liability. $375, $175, $260 and $1,750 were wrong so those aren't even an option. Please show your work for the answer.

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Answer #1

Answer:

Paige tax liability
At paige's tax rate = (Taxable Income - Income taxed at parents rate)*10%
Paiges's Tax =($3,750 - $2,000)*10% = $175
Income taxed at parents rate =$2,000*28% = $560
Paige's tax liability is = $735

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