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With regards to the "kiddie tax", which of the following is true? a.If a child reports...

With regards to the "kiddie tax", which of the following is true? a.If a child reports only earned income, the kiddie tax does not apply. b. If the "kiddie tax" applies, the tax rate cannot be more than twice the lowest marginal tax bracket rate. c. The kiddie tax can never apply to a child 19 years old. d. If a child loses one parent, the kiddie tax does not apply.

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Answer #1

If a child reports only earned income, the kiddie tax does not apply because kiddie tax is a tax on a child's unearned income, like interest income, dividends, and capital gains.

Correct answer is option a .

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