In 2019, Simon, age 12, has interest income of $8,340 and no earned income. He has...
In 2019, Simon, age 12, has interest income of $8,340 and no earned income. He has no investment expenses.
| Net unearned income is | $. 6140 |
| Simon's total tax is | $. ???? |
Homework Answers
The net unearned income is $6,140
So Simon's tax will be ($2,600x10%) + ( $6,140-$2,600)x24%
=$260+$849.6
=$1,109.6
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