contestada

During 2020, Jasmine (age 12) received $6,500 from a corporate bond. She also received $600 from a savings account established for her by her parents. Jasmine lives with her parents and she is their dependent. Assuming her parents' marginal tax rate is 24%, what is Jasmine's gross tax liability

Respuesta :

jepessoa

Answer:

$605

Explanation:

Jasmine's total gross income = $6,500 + $600 = $7,100

standard deduction = $1,050 or earned income + $350. She she doesn't have earned income, then $1,050

taxable income = $7,100 - $1,050 = $6,050

tax liability = $6,050 x 10% (lowest bracket) = $605

Otras preguntas