Question

Danny Liu is 20 years old and is considered a dependent of his parents for tax purposes. Assume the taxable year is 2019. Compute Danny’s taxable income if Danny’s only income item was $2,712 interest earned on a certificate of deposit. Compute Danny’s taxable income if Danny had two income items: $2,712 interest earned on a certificate of deposit and $3,276 wages from a part-time job.

Answer #1

Danny Liu is 20 years old and claimed as a dependent on his
parents’ tax return. Assume the taxable year is 2017. Compute
Danny’s taxable income if Danny’s only income item was $2,712
interest earned on a certificate of deposit. Compute Danny’s
taxable income if Danny had two income items: $2,712 interest
earned on a certificate of deposit and $3,276 wages from a
part-time job. How would your answers change if Danny were not
claimed as a dependent on his...

In 2019, Carson is claimed as a dependent on his parents' tax
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* Note: Please provide the calculations for your answer.
Thanks!!!

In 2019, Carson is claimed as a dependent on his parents' tax
return. Carson's parents provided most of his support.
What is Carson's tax liability for the year in each of the
following alternative circumstances? Use Tax Rate Schedule,
Dividends and Capital Gains Tax Rates, Estates and Trusts for
reference.
b. Carson is 23 years old at year-end. He is a
full-time student and earned $14,300 from his summer internship and
part-time job. He also received $5,850 of qualified dividend...

In 2019, Carson is claimed as a dependent on his parents' tax
return. Carson's parents provided most of his support. What is
Carson's tax liability for the year in each of the following
alternative circumstances? Use Tax Rate Schedule, Dividends and
Capital Gains Tax Rates, Estates and Trusts for reference.
b. Carson is 23 years old at year-end. He is a full-time student
and earned $14,000 from his summer internship and part-time job. He
also received $5,000 of qualified dividend...

USE 2018 TAX RULES
7(a). Bob is 17 years old and can be claimed as a dependent by
his parents. He has $4,000 of income from a summer job and $2,200
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show work

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n 2018, Carson is claimed as a dependent on his parent's tax
return. Carson's parents provided most of his support.
Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates,
Estates and Trusts for reference. (Round your final answer
to the nearest whole dollar amount.)
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